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The Business Of No Business: American Varsities Lose Out On MBA Aspirants; Asia, Canada And Europe Top Gainers
Representative Image. (Photo by Qamar Sibtain/India Today Group/Getty Images)
Colleges in the United States are facing a seven per cent decline in MBA applicants all over the country. It has seen a decrease of 1.8 per cent in domestic and 10.5 per cent international applications respectively. However, there is an increase in the Asia-Pacific, Canadian and European regions, according to a survey published by the Graduate Management Admission Council.
Applications for MBA, business master’s and PhD programmes have increased in the three regions compared to last year. Canadian and European regions have seen the progress because of international applicants. Domestic applications are fuelling a rise in the Asia-Pacific region, reported The Indian Express.
Asia-Pacific saw an increase of 8.9 per cent, Canada at 7.7 per cent and Europe at 3.2 per cent across all programme types. GMAC President and CEO Sangeet Chowfla was quoted as saying, “Non-US programs continue to thrive, highlighting the continued emergence of enhanced educational and professional opportunities outside the United States.”
“A low unemployment rate means young professionals have an increased opportunity cost of leaving their jobs in pursuit of an advanced degree. Combined with a disruptive American political environment and the emergence over the past decade of tremendous educational and professional opportunities abroad, one can begin to understand in part why demand in the United States has dropped from previously record-high application volumes at some schools,” he added.
Canada and Europe have been successful to attract international students to study, which results in the application volume in totality. 65 per cent of Canadian programmes and 63 per cent of European programmes reported an increase in international applications in 2017.
Accessibility is a key factor, experts say. If the US is willing to accommodate and make efforts for people from different backgrounds and regions, they too will observe an increase in applications.
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