Global MBA applications rise 7% in 2025 despite economic and political volatility: GMAC

Despite concerns over economic and political volatility, global applications to graduate management education (GME) programmes increased by seven per cent in 2025, according to the annual Application Trends Survey conducted by the Graduate Management Admission Council (GMAC).

The survey noted that the rise in applications was largely driven by interest in full-time, in-person programmes, while total international applications remained relatively steady. However, the flow of applicants shifted away from traditional GME hubs such as the United States, Canada, and the United Kingdom toward Asia and Europe outside the UK.

In the United States, MBA programmes recorded a slight one-point decrease in applications. In Canada and the United Kingdom, the decline was more pronounced, with 84 per cent of Canadian programmes and approximately two-thirds of UK programmes reporting fewer applications. The reduction is attributed to tighter visa policies and labour market uncertainty, which discouraged international applicants.

By contrast, programmes in Asia and parts of Europe experienced significant growth. India reported a 26 per cent increase in applications, while East and Southeast Asia saw a 42 per cent rise, reflecting the success of business schools in marketing strategies, reputational gains, and regional stability.

Joy Jones, CEO of GMAC, stated, “Despite reported concerns with economic and political volatility, applications to all GME programmes continued to grow in 2025, driven by interest in full-time, in-person programmes. Total international applications were largely steady but flowed away from top global hubs like Canada, the United States, and the United Kingdom and toward Asia and the rest of Europe.”

The survey also highlighted trends in programme offerings. Nearly all reported business master’s programmes, except for Master of Business Analytics programmes, experienced growth in both domestic and international applications. Schools are increasingly adapting curricula to meet changing student and employer expectations, with a focus on artificial intelligence (AI), sustainability, and non-degree credentials.

Integration of AI has become mainstream, with only 16 per cent of programmes reporting no AI content in 2025, down from 22 per cent in 2024. Over half of schools now teach AI as a tool for decision-making, business strategy, and societal impact, often through hands-on projects.

Sustainability has also gained prominence in GME curricula. Three in four programmes offer opportunities to study sustainability, with 63 per cent of prospective students considering it important to their studies. Regionally, programmes in Asia outside Greater China and India are most likely to require sustainability courses, while US programmes are the least likely to do so.

Regarding gender representation, women continue to constitute just over 40 per cent of GME applicants, a proportion that has remained steady for more than a decade. In 2025, women applied to MBA programmes at a faster rate than men, while their representation among business master’s applicants remained just below parity.

The GMAC Application Trends Survey provides graduate business schools worldwide with data on application volumes, applicant demographics, and programme trends, offering insights into evolving demands in graduate management education.