Hong Kong University of Science and Technology, NUS Business School, Asian Institute of Management - Manila – Philippines, School of Business - University of Hong Kong, IUJ Business School, Nanyang Business School, INSEAD - Singapore.
Do you know what’s common among all the B Schools listed above? They are all located in Asia. What is it that is attracting a chunk of students to pursue their dream MBA in an Asian B School when there are lot of opportunities awaiting them in the West? Let’s see.
If I quote Economic Times, there are currently 90 000 foreign students representing over 120 nationalities in Singapore and the Tourism Board has plans to take this number to 1 50 000 by 2015. There are 75 per cent foreigners in Singapore, Indians forming a major chunk of the student population.
What has Singapore to offer to students? Does it offer enough jobs to place students or does the city offer enough research and business opportunities for faculties and MNC to shift their bases?
I’d say, yes.
If we see Singapore as a research destination for a faculty or a business destination for an MNC, the city has a lot to offer. Not to forget that China and India are rising economically at a rocket speed and the demand for high quality managers is bound to increase. With high growth and prosperity in Asia, the umpteen opportunities that the region offers to the researchers as well as business organizations are both challenging and exciting. Asia is still a blooming baby; it is challenging a hub of talented professionals to explore, grow, and bring a transformation both in education and business. While it provides a wide platform to professors to explore more, with the hospitality and tourism sector flourishing it is attracting organizations to make their mark in one of the fastest booming regions. Everything is boiling down to benefiting the students, who are studying there. The top class researchers would provide the quality education and the top companies would pick these well groomed candidates. Not a bad deal at all!
With GDP of US $161,348.8 million in 2007, Singapore has become one of the most reputable financial centres. Preliminary estimates show that employment grew by 68,400 in the first quarter of 2008 as the economy picked up pace. This growth in jobs is higher than the increase of 62,500 in the previous quarter and 49,400 in the first quarter of 2007. In the first three quarters of 2007, 171,500 new jobs were created, which is close to the 176,000 for the whole of 2006. For the whole of 2007, Singapore’s economy has grown 7.5 percent and drew in a record S$16 billion of fixed asset investments in manufacturing and projects generating S$3 billion of total business spending in services.
Chinese, Malay, and Indians form the chunk of the population of Singapore and add vibrancy to the cosmopolitan Singapore. Although all these people have made an identity by calling themselves as Singaporeans, a mix of traditional practices and festivals truly makes the place more exciting and mysterious at the same time.
Singapore is well connected through land, air, and water, which makes it a lucrative destination for many entrepreneurial ventures as well as brand expansion for already existing companies. Singapore is recognized as one of the world’s most business-friendly economy in the world. Some of the key growth industries are Education, Biomedical Sciences, Chemicals, Media, Engineering and Info-communications. A free market economy, with low taxes to attract foreign companies, Singapore is strategically located as the regional hub of South East Asia.
Tourism being the vital part of economy, it is already attracting many resorts, hotels, and integrated resorts to make their mark on the land.
As per Economic Times, high standards of living at reasonably affordable prices and a cosmopolitan city with traditional Asian values are some of the factors that attract students to Singapore.
Well! INSEAD, France, and University of Chicago Graduate School of Business, USA, didn’t come to open their permanent campuses in Asia for nothing. Isn’t it?
