Are B-Schools Lying About Rising MBA Applications?

What the GMAC Data Really Reveals About Global MBA Trends? GMAC says global business-school applications are rising, but at MBA & Beyond, we’re witnessing a more complex reality.
Many Indian and Asian candidates are no longer applying to U.S. schools. Instead, they’re shifting toward Europe, Asia, and leading Indian programs like ISB and IIMs.

This isn’t a contradiction; it’s a strategic and geographic realignment.
To understand what’s really happening behind these rising MBA applications, we must look beyond the headlines and analyze where these applications are coming from, and why.

The Numbers: Yes, Global Applications Are Rising

According to the Graduate Management Admission Council (GMAC), global applications to graduate management programs rose by 7% in 2025.
This rebound follows two slower years, reflecting a familiar pattern: when job markets tighten and uncertainty rises, professionals return to education for stability and career growth.

So when B-schools say “applications are up,” they are technically correct.
But the more important question remains-who is applying, and where?

The Growth Is Not Everywhere, It’s a Shift

When we break down GMAC data by region, a new picture emerges. The rise in MBA applications isn’t global, it’s regional and strategic.

Asia Is Booming- Especially India

India’s MBA application volume jumped by 26%, while East and Southeast Asia surged by 42%, according to GMAC.
Applicants now view Asian programs as smarter, ROI-driven alternatives with lower costs, cultural proximity, and strong post-MBA growth.

Top programs in Singapore, Hong Kong, Shanghai, and India like NUS, CEIBS, and ISB- are leading this boom. 【Poets & Quants】

Europe Is Rising Fast

European business schools are rebounding faster than the U.S. since COVID.
Programs like INSEAD, HEC Paris, IE, ESADE, Rotterdam, and Oxford Said are now reporting record-breaking MBA applications-sometimes even surpassing pre-pandemic peaks.

Shorter program durations, lower tuition, and favorable visa policies make Europe an appealing mix of ROI, global brand value, and career stability. 【EFMD Global Blog】

The U.S., U.K., and Canada Are Losing Share

Data from GMAC and Poets & Quants show that while total applications are up, international interest in the U.S., U.K., and Canada is slipping.
Visa uncertainty, geopolitical tensions, and slower job markets are dampening enthusiasm.

Top schools like Harvard, Wharton, and Stanford remain strong, but their international applicant mix is thinning, especially from India and China.

India’s Own Schools Are Soaring

India’s premier programs: ISB and IIMs, are absorbing much of the demand that once flowed abroad.
They’re attracting mid-career professionals and more women applicants, backed by corporate partnerships, global faculty collaborations, and strong alumni networks.

Applications to ISB have reached record highs, fueled by cost-effectiveness and stellar placement outcomes. 【Times of India】

China and East Asia: The Quiet Reversal

Once major exporters of MBA talent to the U.S., China and its neighbors are changing course.
GMAC’s Geographic Trend Report (2023) shows the share of GMAT score reports sent to U.S. schools dropped from 76% to 64% in under a decade, while Western Europe’s share grew sharply.

Visa challenges, political tensions, and post-pandemic realities have redirected applicants toward CEIBS (Shanghai), HKUST (Hong Kong), NUS (Singapore), and INSEAD Asia Campus.
CEIBS even launched an initiative inviting students already admitted to top U.S. MBAs, a bold show of regional confidence. 【Poets & Quants, WSJ, MBA.com】

Latin America and Emerging Markets: Following the Trend

Applicants from Latin America are also diversifying.
GMAC data shows that the share of non-U.S. citizens sending GMAT scores to U.S. schools dropped to 33% in 2023, while interest in Europe and Asia grew.

For many, lower costs, easier visas, and stronger local economies make these destinations more practical and ROI-driven choices.
While U.S. MBAs remain prestigious, they’re no longer the default path. 【GMAC Latin America Snapshot 2022】

Why Applicants Are Changing Course

The surge in rising MBA applications toward Asia and Europe is driven by a mix of practical and economic factors:

• Visa and Immigration Risk: F-1 rejections and H-1B uncertainty make U.S. MBAs a riskier investment. 【Poets & Quants】
• Cost vs ROI: Lower tuition and better placement rates in Europe and India make them more appealing. 【GMAC】
• Regional Economic Growth: Fast-growing Asian economies promise better post-MBA career potential. 【Poets & Quants】

When B-Schools Say “Applications Are Rising”

They refer to aggregate global volume, not regional patterns.
That statement is accurate but incomplete.

Growth in Asia and Europe masks declines elsewhere.
For example, the same GMAC data that shows a 7 percent global increase also reveals that U.S. international applications fell.
The headline is true, but the story beneath it is changing.

For Indian Applicants and Advisors

• Don’t assume the U.S. is the default choice. European and Indian MBAs deliver faster ROI and lower risk.
• Time applications carefully; scholarship and placement cycles differ by region.
• Focus your essays on fit, purpose, and impact, not just brand names.

For Chinese and East Asian Applicants

Balance geopolitical risks with long-term career strategy.
Programs like CEIBS, NUS, and INSEAD Asia now rival top Western MBAs in global reach and alumni networks.
If targeting the U.S., focus on schools with strong international placements and STEM-eligible programs for visa security.

For Latin American and Emerging Market Applicants

Look beyond traditional English-speaking options.
Explore how European and Asian programs link to your home industries.
The current U.S. slowdown could actually offer an advantage- higher scholarships and less competition.

Final Word: The New Geography of MBA Demand

Yes, MBA applications are rising.
But they are rising in different regions and for different reasons.

This is not just a rebound; it is a reconfiguration of global MBA demand.
The US is no longer the automatic choice. Europe, Asia, and India are now powerful alternatives.

For applicants and advisors, this is a moment to make smarter, data-informed choices.
At MBA & Beyond, we help candidates navigate this shift, not to chase brands but to choose futures that align with their purpose and potential. Let’s get it done! Stay focused, be authentic, and let your unique story shine through with MBA&Beyond.