American, British Schools Draw Fewer Overseas Students, Economist Reports
Immigration policies in the United States and Great Britain are making it less appealing for students from other countries to pursue MBAs there, even though they are home to some of the best MBA programs in the world, according to a report this week in the Economist.
In 2011, America educated 44 percent of the world’s MBAs, a sharp reduction from the 66 percent it claimed in 2000, the Economist reports. Even in absolute terms, the number has shrunken from 126,000 to 116,000. One of the greatest contributing factors is how difficult it is for students from overseas to obtain a work visa for after graduation. According to the Economist, even highly-skilled foreigners, like MBA graduates, typically wait a decade for a green card.
In Britain, meanwhile, students from outside the European Union are getting squeezed even more. In its efforts to reduce net immigration, the Conservative Party has made the application process to receive student visas significantly more difficult, the Economist reports. It also has made it much more difficult for non-Europeans to work in the U.K. upon graduation – requiring an immediate sponsoring company and minimum starting salary – and is refusing to allow students to bring their spouses or children with them when they study. Enrollment numbers have taken a hit as a result, the Economist points out, noting that British business schools were down 11 percent over the past year according to its own recent MBA rankings.
But with their tighter immigration policies, the United States and Britain are the ones who stand to suffer, the Economist piece argues. The schools lose out on tuition from foreign students, native-born students lose out on the valuable opportunity to mix with bright people from elsewhere and truly understand the globalized world, and foreign students are less likely to forge connections that could lead to future business between their home countries and the U.S. and U.K.
Meanwhile, the Economist points out, other countries – including Canada, Australia and China – are stepping up to welcome the bright students America and Britain are turning away. They are doing so by reducing restrictions, undercutting tuition costs and improving standards.
The Economist piece closed with this bit of advice: “The world is engaged in a war for mobile talent. Nations that refuse to take part will lose. The good news is that the most potent weapon costs nothing at all. It is a welcome mat.”
Read the full Economist article, “Foreign Students: Not Welcome Here.”
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