I think generally speaking, no. Much depends of course, on the age and stage of education of the child.
Trying to make it sound beneficial to the child is disingenuous in my opinion, because let's face it, the reason parents take children out of school for holidays is because the parents want a holiday and don't want to pay premium prices for it. Nothing to do with "oh the child learned so much about culture". Bullshine!!
I think if a parent takes a child out of school during term time, then it should be up to that parent to make sure the child is caught up with whatever work they have missed during the week/fortnight/however long it is, and not the class teacher, as that is detrimental to the whole class.
And the other thing is - I just hope these parents don't mind when the teacher, who happens to also be a parent, turns around and says "well, you know - we like to have holidays too, and we don't really want to pay premium prices either, so I am going to shuffle off on a nice holiday mid term, and your kids will just make to make do with whatever teacher they can find to fill my spot, and I'll catch up with the work when I'm back". Now I know teachers wouldn't/don't have that option, but the principle is there. Teachers, I am sure, would love the option to pay the lower out-of-high-season prices for holidays.