B-school boost: Indian students drive MBA application growth worldwide in 2024

Applications to two-year MBA programs in the US surged by 19% in 2024, marking a sharp rebound after years of decline, according to a survey by the Graduate Management Admission Council (GMAC). A significant portion of this growth was driven by Indian applicants, reinforcing India's position as a key supplier of international talent to global business schools.

India, along with China, remained a dominant source of international students in 2024, contributing significantly to application growth in the US, Europe, and Asia. While overall international applications to the US remained strong, business schools in Canada and the U.K. experienced a decline, possibly due to shifting immigration policies and job market conditions.

Interest in traditional full-time MBA programs increased globally, with India playing a crucial role in sustaining international enrollment. In Asia, excluding India and Greater China, applications also grew, primarily from domestic candidates. Indian business schools are integrating artificial intelligence (AI) into their curricula, focusing on business ethics, decision-making, and strategy. While global MBA programs are still defining AI policies for admissions, Indian institutions are also exploring AI-driven enhancements in learning and career planning.

Despite a changing global admissions landscape, first-generation applicants, including those from India, accounted for a growing share of MBA applications worldwide. Business schools in North America and Europe increased their financial aid offerings, with merit-based scholarships becoming a major draw for Indian students seeking to study abroad. More than half of MBA programs in the US reported application growth, partly due to increased applications from Indian students.

Canada saw a decline in international applications affecting admissions, although India remained a top source of students. Europe, excluding the U.K., saw record application growth, with strong interest from Indian applicants, while two-thirds of U.K. programs experienced declines, despite India continuing to be a key contributor. Outside of India and Greater China, most MBA programs in Asia reported growth, reflecting a shift toward regional education.

The 2024 admissions cycle underscores India's growing influence on global MBA enrollments. As financial aid options expand and international policies evolve, Indian students will continue to shape the future of business education worldwide.