A paliday is a holiday in which you rely on the goodwill¹ of your friends or family to feed and house you in their own home. And in the recent tough financial climate, the paliday appears to be increasingly popular, as people search for alternative ways to take a break at a time when their holiday budget is tightly squeezed. (Source: macmillandictionary.com)

Paliday（亲友假期）是指住在亲戚或朋友家，由他们提供食宿的度假方式。在目前不景气的经济形势下，“亲友假期”越来越火，因为这种度假方式可以让人们在预算有限的情况下还能享受一个不打折扣的假期，好好放松一下。

For example:

The most popular type of paliday is a beach or seaside break.

最受欢迎的“亲友假期”是到沙滩或海滨度假。

Paliday follows a couple of other recent neologisms stemming from the need to find more economical ways to take a holiday. 2008 saw the emergence² of the staycation, a holiday in which people stay at home and visit places near to where they live, and rapidly in its wake came the daycation, a day trip or short holiday that does not involve staying away overnight.

经济危机以来，人们想出了各种经济的度假方式，比如待在家里休息或者在附近区域景点游览度假的staycation（家中度假）、以及不需要在外面过夜的daycation（一日游）。