Nearly every CEO anticipates significant spending for their companies in 2013 on Travel. In fact, Travel and Meetings ranked second highest among all categories for likelihood of expenditures.
Among those with expenditures on Travel and Meetings, CEO involvement in the purchase decision process is high. While one quarter of CEOs are involved in each the Early (23.8%) and Middle stages (25.1%) of purchase decisions (needs identified and vendors compared/evaluated, respectively), a full 52.8% of CEOs are involved in the Final Stage, during which decisions about specific vendors are made or approved.
CEOs report average expected 2013 expenditures on Travel and Meetings for their companies at $616,000.
For their own travel, CEOs are the most discerning—and profitable—travelers in the world. They highly value convenience and comfort, and are willing to pay for the privilege. An unmatched 86.5% of Chief Executive readers intend to or may travel in premium-priced Business Class, while 57.4% choose First Class tickets.