Europe’s B-Schools Gain Global Popularity
The number of GMAT scores being sent to business schools in Europe increased 65% from five years ago, according to a new report published today (Feb. 23) from the Graduate Management Admission Council (GMAC). More Europeans are choosing to study in the region, the report also found, as the share of scores they sent to schools in Europe increased to 63 percent in 2011, from 48 percent in 2007.
The annual European Geographic Trend Report for GMAT Examinees also highlights the highly international prospective-student pipeline to European schools. Of the 85,319 scores received by programs located in Europe, a majority (62%) came from non-Europeans. The leading sources of foreign talent sending scores to Europe came from India, China, the United States, and Canada.
“The globalization of management education is no more visible than in the GMAT trends we are witnessing in Europe,” said Dave Wilson, president and chief executive officer at GMAC, in a statement. “And as the full effects of the Bologna Accord are beginning to be felt in the region, prospective students have more choices in the type of programs and where they want to study.”
In addition to potential talent flows for business schools, the report also sheds light on the increasing popularity of specialized master’s programs in areas such as accounting, finance and management. Although the MBA remains the preferred program of choice for European GMAT test takers, the proportion of score reports sent to specialized program worldwide doubled, from 21% in 2007 to 43% in 2011.
TOP 10 EUROPEAN COUNTRIES WHERE GMAT EXAMS WERE TAKEN IN 2011
Increased interest in specialized master’s program is being driven by a younger group of GMAT test takers. More than half (51%) of European citizens who took the GMAT exam in 2011 were younger than 25 years old, compared to only 38 percent in 2007. Notably, GMAT test takers from France were among the youngest while examinees from Spain were among the oldest.