Cheapest Country for MBA – Over a quarter of a million students globally pursue an MBA, suggesting that students are in great demand for MBAs. MBA is a most promising degree with a specialisation required by current business standards. The cost of an MBA program abroad ranges from $55,727 to $161,810. This is quite expensive, and students need help finding the cheapest countries for the MBA program. However, finding an affordable MBA program for studies abroad can take time initially, but we will solve your problem and choose the best for you.
With a list of the most affordable countries for Indian students to study MBA, we are here to assist you. Now, discuss the ten most affordable and advantageous options for earning your MBA overseas. Let’s have a look at why doing an MBA from abroad and get to know the cheapest country for MBAs.
Why study MBA abroad?
Getting an MBA for less money abroad might be difficult but worthwhile. With the greatest curriculum and ROI, an inexpensive MBA overseas can help you launch a successful career without adding to the burden of student debt. If it doesn’t convince you to consider getting an MBA overseas, The following are the top justifications for studying an MBA overseas:
Networking: Pursuing an MBA overseas can give you several chances to connect with individuals from various backgrounds. Additionally, it can allow you to network with industry experts with a wealth of knowledge.
Excellent benefits package: Compared to MBA graduates from Indian B-schools, the average income paid to reputable international B-school graduates is much greater. Thus, it is worthwhile for Indian students to pursue an MBA abroad at a reduced cost.
A Realistic Approach: Studying for an MBA overseas necessitates learning many cutting-edge business strategies. You can use this to your advantage when using dynamic business management strategies. Therefore, the least expensive countries for MBAs are very sought after.
Holistic Development: Having an MBA overseas gives you extensive exposure and a profound understanding of the corporate world. For this reason, studying for a cheap MBA overseas can facilitate obtaining exposure at a reasonable cost.
We hope that we have convinced you by providing the reasons for studying for an MBA abroad. Now, it’s time to look for the cheapest country for MBA.
Cheapest Country For MBA: Which is the cheapest country to study for an MBA?
Many study-abroad countries are specifically launching MBA programmes that are easy to enrol in and provide fee waivers on tuition fees. Furthermore, confirm that the nation where you intend to pursue your studies has a reasonably priced cost of living. For instance, because of the relatively low cost of living, an MBA from Canada would be less expensive than an MBA from Germany.
Analysing along similar lines, the following list shows the most affordable nation for Indian students to pursue an MBA:
- Canada
- USA
- UK
- Australia
- Switzerland
- China
- Germany
- Norway
- Ireland
- Netherlands
- France
- Singapore
- Sweden
We have provided a list of cheap countries for MBA programs. Now, let’s examine each one in detail to understand its tuition fees, living costs, and popular universities.
1. Canada
One of the most popular study-abroad locations for international students is Canada. International students are drawn to it because of its affordability, diversity, and excellent standard of living. Canada is the most affordable country for MBA programs. Thus, students who want to study for a cheap MBA have even more incentive to come here. As per the return after completing the MBA in Canada, you can consider it the cheapest country for Mba.
What are the tuition fees in Canada?
The tuition fees in Canada are approximately CAD 30,435 – CAD 31,856/per year.
Canada is a popular location for students worldwide. It is one of the most sought-after nations in the world, and it has a greater permanent residential rate. It is, therefore, the greatest nation for affordable MBA study.
Top Universities for MBA in Canada
- University of Alberta
- Memorial University of Newfoundland
- McGill University
- Wilfrid Laurier University
- The University of British Columbia
- Simon Fraser University
What is the cost of living in Canada?
The cost of living in Canada is CAD 1,000 per month.
2. USA
The best universities in the world are located in the United States of America. These colleges’ top undergraduate, graduate, and other degree programs are renowned. Most of the nation’s top universities are in major cities like New Haven, Cambridge, Old Saybrook, Boston, etc. MBBS, MFA, BBA, MBA, B.Tech, B.Sc., and MS are among the major programs international students study in the United States.
What are the tuition fees in USA?
The annual tuition for an MBA program in the United States varies from USD 45,000 to USD 77,000 (36.78 Lakhs INR to 62.94 Lakhs INR).
Top Universities for MBA in USA
- Harvard University
- Massachusetts Institute of Technology, MIT
- University of Chicago
- University of Pennsylvania
- California Institute of Technology (Caltech)
- Yale University
- Princeton University
- University of California
- Cornell University
What is the cost of living in USA?
The estimated monthly cost of living in the United States varies based on lifestyle and geography, ranging from $2,500 to $3,500. This includes housing, food, travel, medical care, taxes, and other costs.
3. UK
International students can receive a top-notch education from UK universities. The programs’ tuition costs are reasonable and easy for students to handle. The UK is a great place to study abroad because of its well-regarded universities, superior education, inexpensive tuition, reasonably priced living, etc. Foreign students find it easier to finish their degrees in the UK because they are awarded scholarships while studying there.
What are the tuition fees in UK?
The cost of tuition for an MBA degree in the UK varies depending on the institution’s location or college and your academic standing. Generally speaking, international students must pay between £35,000 and £60,000 (INR 35,50,516 to INR 60,83,082) annually or for the duration of the programme. While many may find this inexpensive, several prestigious universities charge more than £1,000,000 (INR 1,01,38,470).
Top Universities for MBA in UK
- University of Edinburgh
- University of Oxford
- Cambridge University
- Manchester University
- University of Bristol
- University College London
- Imperial College London
- King’s College London
What is the cost of living in UK?
In London, you might have to pay a monthly living expense of £1300 to £1400. Outside of London, you must spend between £900 and £1300. These expenses will take care of one’s groceries, lodging, bills, and other associated expenses. Planning your stay’s budget is crucial because many other elements, including your lifestyle, errands, entertainment, etc., impact the daily allowance.
4. Australia
All of Australia’s esteemed academic institutions are concentrated in the region of New South Wales on the country’s east coast. Numerous top universities in the nation are located in major cities such as Sydney, Canberra, Brisbane, Melbourne, and Perth. Popular courses taken by Indian students in Australia include Master of Business Administration (MBA), Hotel Management, Information Technology, Health Care, and Accounting.
What are the tuition fees in Australia?
An MBA program in Australia typically costs AUD 60,000 per year. Since tuition at Australian universities increased by 3% in 2022, international students may have to pay between AUD 16,000 and AUD 126,000.
Top Universities for MBA in Australia
- University of New South Wales
- Monash University
- University of Melbourne
- University of Western Australia
- Australian National University
- University of Technology Sydney
- Macquarie University
What is the cost of living in Australia?
The average monthly cost of living in Australia is INR 97,500, not including rent. This covers additional everyday costs like food, health care, and transportation. In Australia, the average rent is INR 1.1–1.2 Lakh outside cities and INR 1.2–1.1 Lakh inside of them.
5. Switzerland
Switzerland is among the most affordable nations for MBA study. Known for its picturesque vistas, Switzerland is also an excellent choice for an affordable MBA study abroad program. International students want to study in Switzerland because of the reasonable fees. Several of the world’s best business schools are also located there.
What are the tuition fees in Switzerland?
For a full-time MBA program, students studying in Switzerland may need to pay between CHF 20,000 and CHF 70,000 (INR 18,57,012.26 to INR 64,99,542.91) annually. Higher tuition may be charged for some of the best B-schools.
Top Universities for MBA in Switzerland
- Swiss Federal Institute of Technology
- Zurich University of St.Gallen
- University of Zurich University of Lausanne
- EU Business School
- American University
What is the cost of living in Switzerland?
The cost of living in Switzerland is higher than in other nations. As an international student, you will need between INR 1,02,000 and INR 1,50,000 monthly to pay for housing, food, transportation, and extra utility costs.
6. China
With more than 492,185 international students from over 196 countries studying there, China (mainland) is another fascinating study location. With more than 40 internationally acclaimed universities, this is a rare but affordable choice for Indian students seeking an MBA overseas. Yes, it is cheapest country for MBA.
What are the tuition fees in China?
The average tuition fee in China for MBA courses is RMB 188,000 to RMB 438,000/year.
Top Universities for MBA in China
- Peking University
- Tsinghua University
- Shanghai Jiao Tong University
- Southwestern University of Finance
- Economics Renmin University
- Shanghai University of Finance
What is the cost of living in China?
The cost of living in China is RMB 3816 per month.
7. Germany
One of the biggest countries for international students is Germany. The world knows it since living and educational costs are so low there. It is undoubtedly the nation where MBA programs are the least expensive.
What are the tuition fees in Germany?
The average tuition fee in Germany for MBA courses is € 19,000 to € 45,000/year.
Top Universities for MBA in Germany
- Humboldt Universität
- Berlin School of Economics & Law
- University of Hamburg
- Grenoble Ecole de Management
- Munich Business School
- HHL Leipzig Graduate School of Management
What is the cost of living in Germany?
The cost of living in Germany is €850 per month.
8. Norway
Both foreign nationals and Norwegian citizens are eligible for free tuition. Norway is a popular location for MBA students because of the high calibre of education and the state colleges that offer free tuition. Norway is a good choice for students looking for reasonably priced locations for their business courses. The greatest and most affordable MBA colleges in the world are located there.
Its availability of free English-taught classes is another reason for its appeal. According to the QS World University Rankings 2022, the world has noticed four Norwegian universities.
What are the tuition fees in Norway?
There are no tuition fees, making studying abroad an affordable option.
Top Universities for MBA in Norway
- BI Norwegian Business School
- NHH – Norwegian School of Economics
- The Norwegian University of Science and Technology
- University of Oslo
- University of Agder
What is the cost of living in Norway?
The cost of living in Norway is NOK 12,352 per month.
9. Ireland
The Economist and Financial Times ranked Ireland’s Michael Smurfit Business School at UCD among the top 100 full-time MBA B-schools. One of the greatest places for overseas students to pursue an MBA at a reasonable price is Ireland. Ireland’s B-schools provide less expensive, but no less excellent, alternative MBA programs.
What are the tuition fees in Ireland?
The average tuition fee in Ireland for MBA courses is €8,000 – €30,000 /year.
Top Universities for MBA in Ireland
- University College Dublin
- Trinity College
- Dublin University College
- Cork University of Limerick
- Dublin City University
- Dublin Institute of Technology
- Irish Management Institute
What is the cost of living in Ireland?
The cost of living in Ireland is €590 – € 1,000.
10. Netherlands
The Netherlands offers reasonably priced, high-quality education to students worldwide. For international students, it is also the most affordable country in Europe to pursue an MBA. For the last three years, according to QS, the Netherlands has ranked 10th worldwide for the popularity of MBA candidates.
About 49% of students in this nation pursuing an MBA can secure employment directly from school. Twenty-five per cent of the remaining students are hired after completing their coursework. These figures suggest that the Netherlands is another top destination for the most affordable international MBA program.
What are the tuition fees in Netherlands?
The average tuition fee in the Netherlands for MBA courses is €12,000 – €54,000/year.
Top Universities for MBA in Netherlands
- University of Amsterdam
- Maastricht University
- Erasmus University
- Rotterdam Nyenrode
- Business University
- Hanze University of Applied Sciences
- Rotterdam University of Applied Sciences
What is the cost of living in Netherlands?
The cost of living in Netherlands is €800 – €1,100 per month.
11. France
Enrolling at a public university entitles you to a two-thirds fee remission from the state, making France one of the best study-abroad countries. This would further lower the cost of your MBA studies. France offers some of the most affordable MBA programs overseas for international students. The MBA programs French B-schools offer are rich in theoretical and practical expertise.
What are the tuition fees in France?
€14,930 – €89,000/year
Top Universities for MBA in France
- HEC Paris
- INSEAD – Europe Campus
- SKEMA Business School
- EMLYON Business
- School ESSEC
- Business School
- EDHEC Business School
What is the cost of living in France?
The cost of living in France ranges from €600 to €800 per month, depending on various factors such as location, expenses, accommodation, food, etc.
12. Singapore
Singapore is becoming increasingly well-known as a destination for global education. Its business schools offer reasonably priced MBA degrees with few admissions requirements. According to the Times Higher Education World University rankings, it is home to five of Asia’s top universities. Compared to national averages, MBA graduates from Singaporean colleges earn some of the best salaries in the nation. Given that Singapore has one of the world’s highest GDP per capita rates, five- or six-figure salaries are typically provided to MBA graduates. Singapore is cheapest country for MBA. Let’s find more information.
What are the tuition fees in Singapore?
SD 28,000 – SD 72,000/year
Top Universities for MBA in Singapore
- Nanyang Technological University
- National University of Singapore
- Singapore University of Technology and Design
- Singapore Management University
- INSEAD
- James Cook University
What is the cost of living in Singapore?
The cost of living in Singapore is SD 1,400.
13. Sweden
Because their institutions offer affordable European-style education, MBA programs from Swedish colleges have become increasingly popular. Swedish colleges provide MBA programs that open up lucrative prospects and prepare you for the fast-paced business world.
What are the tuition fees in Sweden?
SEK 330,000/year
Top Universities for MBA in Sweden
- SSE Stockholm School of Economics
- Stockholms Universitet
- University of Gothenburg
- LUSEM – Lund University School of Economics and Management
- Blekinge Tekniska Högskola
- Blekinge Institute of Technology
What is the cost of living in Singapore?
The cost of living in Singapore is SEK 12,000 per month, depending on your location and expenses.
Want to Study Abroad?
Here, we have listed the 13 Countries with the lowest MBA prices in the world. This can help you choose the best university, depending on your preferences. The MBA is a renowned course, and it can give you a lot of exposure to working in the corporate world. However, it is an expensive investment at the beginning of your career; how will you manage it?
You can contact us at SecuremyScholarship. We focus on making education accessible and affordable to every student and provide guaranteed and exclusive scholarships. Our admission counsellors are experts and can easily guide you through the entire process.
