Hard-pressed parents could save more than £2,500 this summer by using grandparents' goodwill instead of expensive childcare costs.
Many families struggle to arrange care of their kids during the six-week summer break from school.
Using figures provided by Family and Childcare Trust, it is estimated that it will set the average family back £2,842.08 for two children to attend nursery and £2,625.48 for a child minder during the school holidays.
Even if one week's care is needed for a single child, grandparent care saves families £242.35 in nursery costs and £220.95 for a child minder.
Online gaming site Tombola has launched a report called The Super Grandparent Economy which heralds the role they play in modern family life.
It said: "Our beloved grandparents, they’re always there if we need them. Whether it’s for a good cuppa, advice, and now more than ever… childcare.
"In fact, 65 per cent of grandparents provide some form of childcare. In modern Britain, grandparents play a major role in the family.
"Most of us will be a grandparent for a third of our lifespan, and as dual-worker households are increasing, we’ve become progressively dependent on our grandparents.
"We understand that not everyone is lucky enough to have grandparents to call upon on, but for the lucky ones why not take advantage of this privilege and benefits for children, parents, and grandparents of financial, emotional and health aspects."
Over £16.1billion a year is the estimated amount that grandparents save UK parents in childcare costs.
