Nearly every CEO anticipates significant spending for their companies in 2013 on Meetings. 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, when needs are 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 at $616,000.
The personal involvement of the CEO in purchase decisions involving travel and meetings greatly increases the likelihood that the organization will forward quickly in the evaluation and adoption process (+92.3%), it will become a priority that others in their organization will give serious consideration to and remove roadblocks in the evaluation process (+91.5%), and ultimately become a reality (+89.4%).
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