Applications to business programmes in Asia Pacific, Canada and Europe during 2018 so far have seen an increase over 2017 while the same has witnessed a drop in the US, revealed Application Trends Survey from the Graduate Management Admission Council (GMAC).
According to the survey, The US experienced around seven percent decline, including a 1.8 percent decline in domestic application volume and a 10.5 percent drop in international volume across all types of business programmes.
Experts are considering disruptive American political environment and the emergence of tremendous educational opportunities in other countries as two of the major reasons for the drop.
Business programmes in Asia-Pacific witnessed an increase of 8.9 percent, Canada realised 7.7 percent growth, and Europe had a 3.2 percent increase in applications.
Growth in the Canadian and European regions derives largely from increases in international applications, while domestic growth is fueling increases in Asia-Pacific, said a statement from the Council.
Regionally, strong growth in application volume across all program types was offset by declines in the United States.
“Demand for graduate management education is stable year over year,” said GMAC president and CEO Sangeet Chowfla.
“However, there are significant regional variations. Non-US programmes continue to thrive, highlighting the continued emergence of enhanced educational and professional opportunities outside the United States,” he added.
Explaining about the various factors for the lag in the US business school demand, Chowfla said, “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 further added.