The terms going on holiday and taking a trip are often used interchangeably to describe a temporary break from work or routine, typically for the purpose of leisure or relaxation.
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A trip is the act of travelling from point A to point B with no transfers (a single trip). A journey on the other hand can be one or a number of trips (transfers) combined to make it from point A to B.
Trip is the general word, indicating going any distance and returning, by walking or any means of locomotion, for either business or pleasure, and in either a hurried or a leisurely manner: a trip to Europe; a vacation trip; a bus trip.
So what's the fundamental difference between a trip and vacation? The difference is your expectation. Trips are something that you do and it often has a purpose. On the other hand, vacations are about the experience.