More Mainland Chinese travelers are jet-setting to foreign shores and global luxury brands are cashing in, according to a new survey by KPMG, the global auditing firm.The findings from KPMG's "The Global Reach of China Luxury" echo reports over the past several months that show Chinese consumers are able -- and willing -- to pay more.

An HSBC report in September estimated that 25% of the world's luxury purchases were made by Chinese nationals -- a jump up from a 5% market share in 2007.

The number of Mainland Chinese consumers polled who traveled overseas in 2012 climbed to 71% -- a "significant change" from 53% in 2008, the KPMG report said. Of those travelers, 72% said they bought more high-end products such as handbags, cosmetics and watches.

This rising tide of Mainland Chinese travelers means that global luxury brands need to take another look at their business strategies in order to take advantage, said Nick Debnam, KPMG China's Asia Pacific Chairman of Consumer Markets.

"It is no longer just about doing business in China... brands need to therefore align their branding and marketing strategies both in China, and for those rising number of travelling Chinese consumers," Debnam said in the report.

A majority of respondents -- 60% -- said Hong Kong, Taiwan and Macau were their favorite places to go to pocket perfumes and cosmetics. One-fifth of respondents said they went to Europe in 2012, up from 3% in 2009.

Mainland Chinese are also recognizing more global brand names -- 59 in 2012 compared to 34 in 2006 -- and have attached specific sentiments to products based on their country of origin.Most respondents -- 89% -- ascribed "romantic" feelings to French products, while 72% said German products were known for being "precise." Four out of five respondents linked the idea of "long history" to Mainland Chinese goods; just 15% attached the same sentiment to U.S.-manufactured items.

Related News in Chinese:
中国中产阶级消费力剧增 海外奢侈品大受欢迎