September 2011 ― Four of Asia’s premiere business schools have joined forces for a second year in a row to recruit top MBA candidates from Europe and North America. Nanyang Business School in Singapore, Indian School of Business (ISB) in Hyderabad, HKUST Business School in Hong Kong and China Europe International Business School (CEIBS) in Shanghai, will work together under the name Top Asia Business Schools (TABS), to draw Europe’s best students to Asia.
"There's the Ivy League in America, so we thought: 'Why can't we Asian business schools do the same kind of thing,'" said Gillian Yeo, Interim Dean at Nanyang Business School, in Singapore. "Even though we are very much each other's competitors, we thought we can all work together in trying to attract and convince people to come to Asia for their MBA.”
The Financial Times ranks all four schools within the top 30 MBA programmes in the world.* Potential students have taken note. Over the past five years, applications to the four schools have risen by between 30 and 325 percent.
The Cost Advantage
For Europeans who want to get a degree abroad, there’s true financial incentive to select an Asian school over an American one, for example.
The Asian B-schools’ entire programme costs, including housing, in U.S. dollars, range from $45,750 (ISB) to $72,308 (HKUST). American MBA programmes, excluding housing costs, can be more than twice as expensive.
"The significantly smaller price tags of our B-school programmes compared to North American institutions should be particularly enticing to Europeans who want to leave the continent,” said Professor Leonard Cheng, Dean of HKUST Business School.
Asia’s booming markets
Asian economies are growing rapidly. The International Monetary Fund projects a 10 percent average GDP growth for China from 2011-2016, while India’s expected average of eight percent is not far behind.
In contrast to these economies, the more developed markets (including the U.S. and Europe) have expected growth of less than three percent and are facing high unemployment.
"Economic growth in Asia opens up employment opportunities for our overseas students and our local students,” said Professor John A. Quelch, Dean and Vice President of CEIBS.
Ajit Rangnekar, Dean of ISB, added, "Our schools also give European students something their western counterparts can’t: invaluable experience in international economic markets that many believe will matter most in tomorrow’s business world.”
Top Asia Business Schools will be participating in the upcoming QS World Fair tours in Europe with details as follows:
· Moscow: October 4th , Swissotel Krasnye Holmy Moscow
· Paris: October 8th, Hotel Le Meridien Etoile
· Madrid: October 13th, Husa Princesa
· London: October 29th, The Queen Elizabeth II Conference Centre
For more about the schools in the coalition and their participation in the B-school fairs, visit http://www.topasiabschools.com/
* Three-year-average ranking provided by the Financial Times