Chinese millionaires are taking more vacations, with France the preferred holiday destination closely followed by the US, according to a new report.

As the nation's affluent classes grow increasingly concerned with social status, the average Chinese millionaire takes 15 days holiday, up 10 per cent from two years ago, according to a study by Shanghai-based luxury publisher the Hurun Report and the International Luxury Travel Market.

The majority, 13 per cent, prefer to take their luxury holidays in France, closely followed by the US at 12.7 per cent. Australia, Japan and the Maldives rank third, fourth and fifth. The UK does not even make the top ten, according to the report.

Not only are China's wealthy taking more holidays, but they are also bringing home more souvenirs. According to the research there has been a 91 per cent increase in Chinese traveler shopping with clothes, watches, jewellery cosmetics and fabrics among the most popular purchases.

China is now home to a million millionaires and the members of this list are also getting younger. They are more hedonistic than their elders, who travel more for business, according to the report. 

The average age of Chinese millionaires is 39, compared to the average age of 50 in the US or Europe. The average age of those with at least $100 million is 43, while those with at least $1 billion is 51. 

China’s millionaires are fast becoming sophisticated and aspire towards higher social status," said Rupert Hoogewerf, chairman and chief researcher for the Hurun Report. Many of China's luxury-travel-seeking group are those who have lost interest in major cities in Europe and the US are looking for a more authentic and customised feel to their experience, the study said.

Compared with the rich first generation families, the second generation is more self reliant and the majority, 27 per cent, make their travel arrangements and arrange their activities themselves.

The increasing rate of self-reliance among the rich is good news for online firms but poses a threat to face-to-face service providers.

The report was based on two studies. First on data collected from April to November 2010, where 401 Mainland Chinese with at least RMB10 million were interviewed and the other from April to May 2011 where 62 individuals with at least RMB10 million were polled.