American English v British English
In meaning, nothing. But, ‘holiday’ is British English and ‘vacation’ is American English. Do you know any other differences?
Here’s a little test for you. Read the following dialogue and decide if the speakers are using American English or British English.
Dialogue 1 - In a restaurant
A) I’ll have the steak with a side order of fries.
B) Have whatever you want, I’m paying.
A) No way! I’m getting the check today. You paid last time!
See my comment for the answer!