I have sent my older DD to 3 weeks of summer camp in the past. She liked it a lot, especially the first summer. This being said, if I had to choose budget-wise between a family vacation or summer camp, I would choose family vacation hands down. I think it is important to do things as a family and have those experiences, time for bonding, memory. That being said, if I could find reasonable financial options, as others have mentioned, I would try to do both and give your older child that time.