not to be condescending to the two people who answered before, but neither are native English speakers. their explanations are close, but not exact. So a vacation is when you take time off from work or school. You may be going away from home or whatever, or you may be just spending time at your house instead of working. In American English, people always describe this as a vacation. In British English, one would say "I'm going on holiday(s)". In American English, a holiday is strictly a day fixed by law or custom on which ordinary business is suspended in commemoration of some event or in honor of some person. For example, Christmas. The British also use the word in this way. however, Americans are much more likely to use the word 'vacation.'