A major annual poll has revealed a sharp decline in interest in studying abroad for an MBA, coinciding with Donald Trump’s re-election as U.S. president. While the Tomorrow’s MBA study from CarringtonCrisp, in association with EFMD, does not directly link the two events, the timing of the shift is notable.
The survey, conducted in November and December 2024 among 1,908 prospective MBA students across 37 countries, found that only 19% of respondents preferred studying overseas—a dramatic drop from 39% in the previous year’s study. Study author Andrew Crisp attributes the decline in international study interest to factors including restrictive visa policies in major MBA markets, geopolitical instability, and the rising quality of domestic and online MBA programs. These trends have already contributed to a reduction in China’s talent exports in recent years.
At the same time, students are gravitating toward specialized MBAs, with 41% favoring specialist programs over traditional generalist MBAs (23%). The most in-demand tech-related MBA subject is Artificial Intelligence (AI), cited by 43% of respondents, followed by Data Analytics and Decision Making (33%), Technology Management (31%), Digital Marketing (29%), and Cybersecurity (27%).
The study highlights that career advancement remains the primary driver for pursuing an MBA, with 33% stating it is essential to achieving their career goals. However, cost remains a significant barrier, with the top concerns being high tuition fees (32%), low return on investment (30%), and insufficient financial aid (25%). Alternative credentials are also gaining traction, with 20% of respondents considering options other than an MBA or EMBA, such as Professional Qualifications (30%), Masters degrees (29%), and Certificates/Diplomas (21%).
Despite the rise of online and hybrid education in recent years, the latest study finds a shift back toward traditional, full-time, on-campus MBAs, with 33% of respondents preferring in-person learning—a stark contrast to the 66% who favored hybrid models in the previous study. The renewed interest in face-to-face interaction, immersive learning, and networking opportunities may be driving this shift.
“It is an interesting and challenging time for MBAs,” says Andrew Crisp. “Geopolitical developments, AI-driven curriculum changes, and the rise of MBA alternatives are reshaping the landscape. However, the MBA remains a flagship qualification, and business schools must adapt to meet evolving student needs.”
