According to research conducted by the MBA Tour, an independent company focusing on business school admissions, rising currency values in China, coupled with a low US dollar, have created heightened interest in US MBA programs.
The average cost of a US MBA runs in the region of $70,000-$120,000 but as the dollar has fallen against leading currencies, that price has become comparatively less expensive. Over the past three years, the Chinese renminbi has gone up 17%.
In the United States, the Graduate Management Admissions Council, which administers the GMAT entry test for business schools, this year saw a 21% increase in registration volume from students outside the US. Many schools have reported significant growth in applications from overseas students.
For instance, international applications to the Johnson School at Cornell University were up 30% this year over last year.
Craig Hubbell, associate director of MBA Admissions at Anderson, says that the falling US dollar is a big reason for the increase.
Source: Financial Times