Asia Pacific top increase in business school programs

KUALA LUMPUR, Oct 1 (Bernama) -- Applications to business school programs in the Asia-Pacific, Europe and Canada markets are up over 2017 while programs in the United States report a drop in volume.

Overall, the demand for graduate management education is stable in 2018 compared with 2017 according to findings of the annual Application Trends Survey from the Graduate Management Admission Council (GMAC).

GMAC said in a statement that programs in Asia-Pacific had an 8.9 per cent increase, Canada realized 7.7 per cent growth and Europe had a 3.2 per cent increase in application demand across all program types.

Growth in the Canadian and European regions derive largely from increases in international applications, while domestic growth is fueling increases in Asia-Pacific.

Concurrently, the United States experienced a nearly 7 per cent decline, including a 1.8 per cent decline in domestic application volume and a 10.5 per cent drop in international volume across all program types.

GMAC president and chief executive officer, Sangeet Chowfla said: “Demand for graduate management education is stable year over year. However, there are significant regional variations.

“Non-U.S. programs continue to thrive, highlighting the continued emergence of enhanced educational and professional opportunities outside the United States.”

Chowfla also explained the lag in U.S. business school demand: “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,” Chowfla added.

GMAC conducted the 19th annual Application Trends Survey from early June to mid-July 2018 from 1,087 graduate business programs at 363 universities worldwide.

Founded in 1953, GMAC is a non-profit association of leading graduate business schools worldwide. More details at www.gmac.com

-- BERNAMA