Top 10 Best Countries To Study Business

Last Updated : 18 Mar, 2024

There is a lot to say about being one’s boss, especially if your passion lies in multimedia, creative arts, a specialist trade, or the thriving business world. A solid business education can significantly contribute to your future career prospects and a business degree is widely recognized as a valuable investment in one’s career. Besides many other perks a business programme puts forth, its highlight remains that it’s designed to help individuals at various stages of their careers.

Pursuing business education in foreign countries provides remarkable professional and personal growth opportunities. It allows you to gain diverse perspectives, get exposure to different cultures, and expand your growth horizon. Nonetheless, picking the best countries for a business program can be challenging because each country has distinct educational systems, cultural nuances, and opportunities.

As vital as securing admission to the right business programme and college abroad, picking the right country is equally important since it is the cornerstone for your successful career. Continue reading to know more.

Table of Content

Why Should You Get Business Education?
Top 10 Countries to Study Business
What Is Better? Getting Business Education in India or Abroad?
Conclusion
Top 10 Best Countries To Study Business – FAQs

Why Should You Get Business Education?

Earning a graduate or undergraduate business degree will likely boost your earning capabilities, but the achievement also has several other perks.

Broad Career Opportunities: A business degree opens doors to a wide range of fields, from finance and marketing to human resources and management. This versatility allows you to explore different areas and find the perfect fit for your interests.

Practical Skills for Life: Business education equips you with valuable skills applicable beyond the workplace. You’ll learn budgeting, communication, problem-solving, and time management, all beneficial in your personal life.

Entrepreneurial Edge: If you dream of running your own business, a business education provides the foundational knowledge to launch and manage your venture effectively. You’ll gain insights into strategy, marketing, and financial management.

Strong Networking: Business programs often involve group projects and presentations, fostering connections with classmates and professors. This network can be a valuable resource for future job opportunities and professional guidance.

Globalized Skills: The business world operates on a global scale. A business degree equips you with a broad understanding of international markets, economics, and business practices, making you a competitive candidate in a globalized workforce.

Financial Literacy: Business education strengthens your understanding of financial concepts like investment, risk management, and market trends. This knowledge empowers you to make informed financial decisions in your personal and professional life.

Overall, a business education offers a valuable combination of theoretical knowledge and practical skills, preparing you for a successful career and personal growth.

Top 10 Countries to Study Business

Now let us dive deeper into the ten best countries to receive top-notch business education:

1. United States

If you plan to study business that is enriching and opens doors to lucrative career opportunities, the United States of America should be on your list. With a solid MBA education system, exceptional living standards, and a thriving business landscape, the USA provides an unmatched MBA experience.

Name of the College/University	Fees (Yearly in ₹)	Admission Procedure	ROI
Harvard University	₹48,85,000	IELTS 7.5 \| TOEFL 109 \| GRE 326 \| GMAT 730 \| Duolingo 130	Average annual starting salary of $125,000
Massachusetts Institute of Technology	₹50,00,000	TOEFL 90 and above \| IELTS 7 and above \| PTE 65 and above \| Duolingo 120 and above \| SAT	₹69,41,000/yearly
Stanford University	₹41,17,000	PTE 68 \| TOEFL 113 \| IELTS 7 \| GMAT 730 \| GRE 328	₹95,44,000/yearly
Yale University	₹61,91,000	TOEFL-iBT: 100 \| IELTS: 7.0 \| Duolingo: 120 \| SAT	₹1,45,000/yearly

2. United Kingdom

The United Kingdom is a fantastic destination for business aspirants, particularly for Indians seeking affordable, shorter, and globally recognised programmes. The financial capital of the world – London- is a major draw for foreign candidates, offering a thriving and vibrant business scene.

Name of the College/University	Fees (Yearly in ₹)	Admission Procedure	ROI
Oxford University	₹30,72,000	TOEFL 110 \| IELTS 7.5 \| GRE 320 \| GMAT 650	Average annual starting salary of €80,000
University College London	₹33,97,000	IELTS 6.5 \| TOEFL 92 \| PTE 75 \| Duolingo 115	₹1.11 crores/yearly
Cambridge University	₹43,60,000	GMAT 630 \| TOEFL 110 \| IELTS 7.5	₹45,87,000/year
Imperial College London	₹48,40,000	TOEFL 100 \| IELTS 7 \| Duolingo 125 \| GMAT 600 \| GRE 314	₹67,00,000/year

3. Canada

Canada is another top choice for students planning to study business. The country’s high-quality business schools, affordable tuition fees, and promising post-graduation employment opportunities draw candidates from all over the world.

Name of the College/University	Fees (Yearly in ₹)	Admission Procedure	ROI
The University of British Columbia	₹29,82,000	GMAT 550 \| GRE 310 \| IELTS 7.0 \| TOEFL 100 \| PTE 65	₹40,34,000/yearly
McGill University	₹20,73,000	IELTS 7 \| TOEFL 100 \| PTE 65 \| GMAT 670	₹16,03,000-40,71,000/yearly
Alberta School of Business	₹19,53,000	TOEFL 100 \| IELTS 7 \| GMAT 550 \| PTE 68 \| GRE 310	₹42,46,000/yearly
University of Toronto	₹42,38,000	TOEFL 93 \| IELTS 7 \| GPA 3.0 \|	Average annual starting salary of CAD 101,067

4. Australia

Australia is another top destination for international students seeking a business degree. The country puts forth an awesome place to settle down as well. This country is worth considering with its top-ranked B-schools, great lifestyle, and strong entrepreneurial spirit.

Name of the College/University	Fees (Yearly in ₹)	Admission Procedure	ROI
Queensland University	₹24,98,000	TOEFL 87 \| IELTS 6.5 \| PTE 64 \| GMAT 550	₹40,54,000/yearly
Melbourne University	₹26,24,000	TOEFL 94 \| IELTS 7 \| GMAT 560 \| GRE 310 \| PTE 65	Average annual starting salary of 1,18,000 AUD
Monash University	₹27,48,000	TOEFL 79 \| IELTS 6.5 \| PTE 58 \| GMAT 650	₹40,02,000/yearly
The University of Sydney	₹26,95,000	IELTS 7 \| TOEFL 96 \| GMAT 630 \| PTE 68	₹39,97,000/yearly

5. Germany

Germany is a fantastic choice for foreign candidates for pursuing business education. Its extensive research opportunities, cutting-edge technology, and affordable tuition fees attract aspiring business candidates greatly. Most of the B-schools in this country also offer free education.

Name of the College/University	Fees (Yearly in ₹)	Admission Procedure	ROI
Ludwig Maximilian University of Munich	₹25,900	TOEFL 88 \| IELTS 6.5 \| PTE 65	USD 47,000/yearly
Humboldt University of Berlin	₹14,400	IELTS 6.0 \| TOEFL 100 \| PTE 48	N/A
Free University of Berlin	₹2,63,000	IELTS 5.0 \| TOEFL 80	1,52,000/month
Technical University of Munich	₹10,81,000	TOEFL 88 \| IELTS 6.5 \| GMAT 600	Average annual starting salary of €75,000

6. Singapore

Singapore has always been a booming hub for innovation and business. This makes it an excellent place to pursue business education. The nation’s education system is considered one of the best in the world, and its B-schools have constantly ranked among the best in recent years. English is the main language of instruction in every university of Singapore.

Name of the College/University	Fees (Yearly in ₹)	Admission Procedure	ROI
National University of Singapore	₹21,42,000/year	GMAT 670 \| TOEFL 100	₹22,59,000-63,58,000/year
Nanyang Technological University	₹20,82,000/year	GMAT 660 \| IELTS 6 \| PTE 55	₹37,24,000/year
Singapore Management University	₹58,01,000/year	GMAT 660 \| IELTS 6.0 \| PTE 55	N/A
INSEAD	₹95,650/year	GMAT 700 \| TOEFL 105 \| PTE 72	SGD 195,000

7. Scotland

Scotland is a fantastic place to pursue business. It provides a diverse educational environment that allows you to expand your professional network and broaden your perspectives. The country’s B-schools offer part-time and full-time business programmes.

Name of the College/University	Fees (Yearly in ₹)	Admission Procedure	ROI
University of Edinburgh Business School	₹42,90,000	IELTS 7 \| TOEFL 100 \| PTE 70 \| GMAT 600	₹36,70,000/yearly
Glasgow University	₹33,17,000	IELTS 6.5 \| TOEFL 90 \| PTE 60 \| GMAT 590	N/A
University of Aberdeen	₹28,30,000	TOEFL 90 \| IELTS 6.5 \| PTE 62 \| GMAT 500	₹74,00,000/yearly
University of Dundee	₹21,90,000	IELTS 6.5 \| TOEFL 88 \| PTE 67 \| GMAT 600	150,000 GBP/yearly

8. Netherlands

The Netherlands is one of the best choices for foreign students for an affordable, high-quality, and multicultural study experience. It is also an exceptional place to launch your career since the country offers numerous opportunities for global talents.

Name of the College/University	Fees (Yearly in ₹)	Admission Procedure	ROI
Amsterdam Business School	₹29,70,000	TOEFL 92 \| IELTS 6.5 \| GMAT 680	€90,000/yearly
Maastricht University School of Business and Economics	₹17,20,000	GMAT 550 \| IELTS 6 \| TOEFL 88	₹1.28 crores/yearly
University of Amsterdam	₹21,61,000	TOEFL 92 \| IELTS 6.5 \| GMAT 680	Average annual starting salary of €52,000
Erasmus University Rotterdam	₹20,30,000	IELTS 7 \| TOEFL 100 \| GMAT 600	€1,35,000/yearly

9. Hong Kong

Hong Kong is a pioneer in business education and has remained a top nation for ambitious business leaders. In the present day, pursuing a business education in Hong Kong opens doors to diverse career prospects and opportunities.

Name of the College/University	Fees (Yearly in ₹)	Admission Procedure	ROI
The Hong Kong University of Science and Technology	₹20,89,000	IELTS 6.5	HKD 6,24,000/year
The University of Hong Kong	₹19,27,000	GMAT 650 \| IELTS 6.5	₹1.24 crores/year
The Chinese University of Hong Kong	₹15,36,000	TOEFL 79	HKD 7,45,915/year
City University of Hong Kong	₹21,24,000	IELTS 6.5	HKD 8,00,381/year

10. Italy

Italy is another country for pursuing business education, with most universities providing courses taught totally in English. The nation’s rich business landscape offers adequate opportunities for candidates to gain industry-leading skills and connect with leading brands.

Name of the College/University	Fees (Yearly in ₹)	Admission Procedure	ROI
Bocconi University	₹13,00,000	GMAT \| GRE \| TOEFL 88 and above \| IELTS 6 and above \| Duolingo 110 and above	N/A
Sapienza University of Rome	₹2,60,000	IELTS 6.5 \| TOEFL 80	$1,30,000/yearly
Bologna University	₹1,37,000	IELTS 5.5 \| TOEFL 80 \| GMAT 550	N/A
University of Milan	₹2,40,000	IELTS 6.0 \| TOEFL 79 \| GMAT 590	$57,000/month

What Is Better? Getting Business Education in India or Abroad?

GMAT (Graduate Management Admission Test) and CAT (Common Admission Test) are two examinations needed for admission into the MBA programme. GMAT is an entrance examination for candidates planning to study for an MBA from a foreign university. CAT is an entrance examination essential for applicants who wish to study for an MBA from an Indian business school. Both tests are standardised with similar difficulty levels and have pros and cons.

If we speak about the exam cost, then the Common Admission Test is way cheaper than the Graduate Management Admission Test. Also, it opens up every route for Indian B-schools and universities, while GMAT is acceptable only for the leading B-schools in India. We suggest you take the GMAT exam if you want to get into top B-schools abroad. It might be costlier, but it opens up more prominent options for aspiring candidates.

Key Points	MBA in India	MBA in Abroad
Duration of the Program	Two Years	One to two years
Type of Study	Full-time	Online, Full-time, Part-time
Specialisations	Finance, Marketing, Human Resources, Entrepreneurship, International Business, Supply Chain, Healthcare, etc.	Finance, Marketing, Human Resources, Entrepreneurship, Data Analytics, Digital Marketing, Consulting, Information Systems, etc.
Teaching	Theoretical	Theoretical and Practical
Average Cost (in ₹)	₹7,00,000-25,00,000	₹20,00,000-75,00,000
Average Salary (in ₹)	₹8,00,000-30,000	₹25,00,000-70,00,000

Conclusion

The quality of university experience and instructions offered by reputable foreign business schools and India’s leading educational institutions varies greatly. There’s a gap in academic quality between international and Indian institutions, making studying overseas the clear winner in this scenario.

MBAs from top Indian B-schools are highly respected and can open avenues to promising and thriving career opportunities in India. However, pursuing business education from the best foreign business institutions offers various specialisations, potentially higher salaries, and greater global exposure.