A recent report from the Graduate Management Admission Council (GMAC) reaffirms the United States' status as the top destination for international students seeking business degrees. According to the 2024 Application Trends Survey, global applications to business schools have surged by 12%, reversing a two-year decline. This increase underscores a growing interest in business education worldwide.
One notable trend from the report is the rise in applications from women. After hovering around 40% for the past decade, women's interest in graduate business programs has climbed to 42% in 2024. Additionally, 55% of programs reported growth in female applicants, marking a 10-percentage-point increase from 2023. MBA programs led this growth, with nearly 70% of flexible MBA programs and almost two-thirds of full-time MBAs reporting an uptick in female candidates. Elissa Sangster, CEO of the Forte Foundation, praised the shift, noting that it strengthens the pipeline for female leadership in the business sector.
The United States' appeal as a study destination remains strong, even amid political uncertainties, such as the upcoming presidential election. Prospective students appear largely unfazed, ensuring the country remains a preferred choice for business education. In contrast, the United Kingdom experienced a steep decline, with domestic applications dropping by 45% and international interest falling by 12%. François Ortalo-Magné, Dean of London Business School, attributed this decline to emerging educational opportunities in regions like Asia, Africa, and Latin America, which offer attractive alternatives to studying abroad.
The report highlights growth across various MBA formats. Full-time, online, and hybrid MBA programs all showed positive trends. Nearly 60% of full-time, in-person MBA programs experienced growth, with two-year programs reaching an 80% growth rate and one-year programs at 64%, the highest in a decade. Online and hybrid MBAs also demonstrated resilience, with 58% and 52% of programs, respectively, reporting increased interest.
GMAC CEO Joy Jones commented on the findings, emphasizing that the surge reflects a "renewed enthusiasm for business education" as programs adapt and innovate to meet evolving student and employer expectations.