US remains top destination for business studies

The US continues to be a leading choice for international students pursuing business education, as highlighted in the Graduate Management Admission Council’s (GMAC) report, “Application Trends Survey 2024 – Business School Applications Skyrocket amidst Economic Uncertainty.” Female applicants now make up 42 per cent of all business school applications, showing a slight rise from the consistent 40 percent recorded over the past decade.

The report reveals that 55 per cent of business programmes have seen an increase in female applications—a 10-point growth from 2023—marking the second-highest rise in female applications within the last 10 years, following the 2020 pandemic surge. MBA programmes have observed the largest gains, with 70 per cent of flexible MBA and nearly two-thirds of full-time MBA courses experiencing growth in female interest. Globally, total applications to graduate business programmes have climbed by 12 per cent from 2023 to 2024, reversing the previous two years of declines post-pandemic.

Given that cost is often a barrier for prospective students, the increase in applications aligns with the trend of more business schools offering financial assistance to new students in 2024. Applications for in-person MBA programmes have also risen significantly, with nearly 60 per cent of two-year and one-year full-time MBA programmes reporting higher demand. Master’s degrees in accounting and management have shown similar growth.

While demand for on-campus programmes remains robust, online and hybrid formats are also drawing interest, with 58 per cent and 52 per cent of these programmes respectively seeing growth in applications. Domestic applications have increased across regions, including the US, Asia, and Europe; however, the UK has experienced a notable 45 per cent drop in domestic applications and a 12-point decline in international applications.