Fewer than one in five respondents (19%) to the Tomorrow’s MBA Survey—conducted by education marketing specialists Carrington Crisp in association with the European Foundation for Management Development (EFMD)—expressed a commitment to studying abroad This represents a sharp decline from the previous year when two in five (39%) prospective students were interested in international study.
The possibility of studying outside one’s home country has often been a major stimulus for embarking on an MBA, with many viewing it as an exciting step toward starting a successful international career. It has also been considered an effective way to achieve worldwide recognition, study with a reputable organization, and gain a global perspective on business.
This sentiment remains strong among those still keen to pursue an MBA overseas, with nearly half of those who revealed interest in studying abroad citing factors such as ‘the opportunity to gain global exposure,’ ‘build a diverse professional network,’ and ‘access top-tier education that can open doors to multinational corporations or roles with a global focus.’
However, stringent visa policies, changes in immigration laws, and inhospitable conditions as a result of political instability have thrown up additional barriers and created uncertainty for prospective students. Of the 1,908 possible MBA students surveyed, many emphasized that they didn’t have the financial or cultural capacity to contend with such obstacles, making international study increasingly less viable.
More than a third (37%) of students ruled out international study on the basis that it would be too expensive for them, and a further 45% of those who said they’d choose to study in their home country did so because they were not in a position to give up their jobs.
At the same time, the rising quality of education in countries ordinarily known for sending students abroad is offering a valid reason to stay at home, the report highlighted. The growing quality of online MBA programs also means students can now earn a degree from a top-ranked international school without the inconvenience of relocating.
Andrew Crisp, the author of the Tomorrow’s MBA Survey, offered reasons for the decline, stating: “Increasingly restrictive visa policies in several major MBA markets, geopolitical instability, and the improving quality of domestic and online MBA programs are combining to put some students off studying internationally.”
