Speaking for myself, from age 5 - 17, I had to slog it out in school except for a summer break of 2 months. But I wasn't an adult to be allowed to travel alone, nor would my parents (even if they could afford, which they couldn't) give me money to 'throw away'. From 17-21 I had to slog in college and there were no holidays longer than 1 week - except for 1 month study holidays before exams. Also, there was no money, even for cigarettes and rum at times, let alone travel. After that I got a job where as the junior most employee you are expected to slog it out even on weekends. If you get fired, getting another job was difficult When you finally got your annual leave for a week or two, you have to go home to meet family (as I was in a different state) - and in any case there was no money to travel anywhere outside india. By the time I had money, I was not a youngster anymore, had family including a small child and gotten used to a comfortable lifestyle. This is probably the story of a vast majority of middle class indians.
Things are changing now with today's 20-somethings having more disposable incomes and more job opportunities. Even companies are becoming less anal about employees taking a break from work. May be you will see more backpackers in the future. Also, getting a visa without a good hotel booking and full itinerary is a hassle for indians and chinese to most countries - i guess because of the sheer numbers.