Posted by: Francesca Di Meglio on July 2, 2008
The weak U.S. dollar might be a good thing for business schools, especially those who are seeking more international students. The MBA Tour, a group that organizes top business programs and provides events such as panel discussions and information sessions to applicants, recently reported in a press release that the rising currency values in Europe, India, and China is creating more interest in U.S. business schools on the part of foreigners.
Thanks to the diminishing dollar and these rising currencies, many international MBA applicants are finding that the cost of a two-year U.S. MBA program is not much more than a one-year program in their native countries, according to a press release about the MBA Tour findings.
A $38,000 tuition in the U.S., according to the release, is equivalent to about 24,200 euros. UCLA Anderson School of Management reports, according to the MBA Tour, that it has seen a 50% increase in MBA applications from Europe in 2008.
Observers of graduate business school programs will probably find this interesting because it is likely to heat up the competition between MBA programs around the world. BusinessWeek recently reported that European MBA programs were starting to catch up to American programs in rigor and prestige. But will they seem too expensive compared to their American counterparts that are charging tuition in the ever-shrinking dollar? What do you think? Let us know by leaving a comment below.