A year ago the demand for MBA was decreasing. Many people did not like this expensive degree due to the fast running of the global economy. Many colleges in Western countries charge up to Rs 70 lakh a year. Some colleges were unable to meet their expenses. In 2019, Illinois University said that it is closing its MBA residential course.
Over the years, dozens of colleges have done so. Sangeet Chauffala, head of the Graduate Management Admission Council (GMAC), says the trend of students remains high as the number of colleges has increased. The Council's new Global Annual Survey of over 300 business colleges found that the number of applications for admission to MBA increased by 66%.
After the outbreak of the epidemic, social distancing and online education disenchanted students in many countries including the US. Admissions increased to European colleges Hong Kong University Business School received more applications from North America and Europe. Later the number of Asian students in Hong Kong increased.
Travel restrictions and difficulties in getting visas Due to this, students from many countries did not go out. International Business School, Shanghai saw a 30% increase in the number of local applicants. As the school's dean Ding Yuan points out, China's economy fared better than other countries. The second reason is that America after Donald Trump is not favorable to the Chinese.
On the other hand, the surprise is that there has been an increase in the number of students taking admission in MBA courses of American colleges. After several years of decline, other leading American colleges including MIT Sloan Management School, Columbia Business School, Wharton School have registered double-digit growth.