US remains top destination for international business students: GMAC report

A recent report from the Graduate Management Admission Council (GMAC) confirms that the United States continues to be the leading destination for international students pursuing business degrees. The findings, part of GMAC's 2024 Application Trends Survey, reveal a significant 12% increase in global applications to business schools, marking a rebound after a two-year decline.

The survey shows that women's interest in graduate business programs has also risen, with application rates climbing to 42% in 2024, up from a steady 40% over the past decade. This trend is further illustrated by the data, which indicates that 55% of graduate business programs experienced an increase in applications from women—an increase of ten percentage points since 2023.

MBA programs have particularly benefited from this surge, with approximately 70% of flexible MBA programs and nearly two-thirds of full-time MBA programs reporting a rise in female applicants. Elissa Sangster, CEO of the Forte Foundation, commended this positive shift, stating that it strengthens "the pipeline for female leadership" as more women engage in business education.

Despite the uncertainties surrounding the upcoming U.S. presidential election, prospective students appear undeterred, maintaining the U.S.'s status as the preferred choice for business studies. In contrast, the United Kingdom has seen a stark decline in applications, with domestic applications dropping by 45% and international interest falling by 12%.

François Ortalo-Magné of London Business School noted that the drop in UK applications may be due to emerging educational opportunities in Asia, Africa, and Latin America, which provide students with viable alternatives for studying abroad.

The 2024 application surge encompasses full-time, online, and hybrid MBA programs. Nearly 60% of full-time, in-person MBA programs reported growth, with two-year MBA programs hitting 80% and one-year programs at 64%—both achieving their highest levels in a decade. Additionally, online and hybrid courses have shown resilience, with growth reported by 58% and 52% of programs, respectively.