Want to study an MBA but can't afford how expensive business schools are? ScholarshipSet presents the cheapest countries for MBA.
An MBA is a good career choice to make, but finding affordable schools or even countries to study one, can be quite challenging and most times, for you to go to top-notch business schools like Harvard or Stanford, you will need a scholarship or loan, which sometimes aren't always easy to get.
In this article, we have made a list of the cheapest (and best) countries for MBA, and also outlined the best business schools in each of those countries, where you can get a quality education while paying little or no tuition fee.
See: 40 Best Online MBA Programs 2024.
Content:
1. 10 reasons why you should study an MBA
2. Table showing the 16 cheapest countries for MBA
3. 16 cheapest countries for MBA
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Canada
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Switzerland
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China
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Ireland
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Malaysia
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Germany
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Norway
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The Netherlands
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France
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Mexico
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Iceland
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Sweden
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Greece
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Poland
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Portugal
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Spain
4. Conclusion
10 Reasons Why You Should Study An MBA
An MBA is one of the world's most sought after courses, and by deciding to do one, you are paving your way to having a successful well-paid career.
If you are still making up your mind on whether you should do an MBA or not, here are 10 reasons why you should definitely do it.
1. An MBA Pays Well
MBA is one of the highest paying degrees in the world. Graduates of this course enjoy better compensation when compared to other courses and thrive no matter the sector they are employed in.
2. You Can Decide To Be An Entrepreneur
As a graduate of business, you already have the knowledge of business management, and financial and business planning, which you will need to successfully run a business, so you could always decide to apply those skills to starting up your own company.
3. Good Career Opportunities
An MBA has a vast career scope and you can gain employment across various sectors like human resources, project management, business development, marketing, financial consultant, etc. You will always have the opportunities to expand yourself and get better at your career.
4. You Could Build A Solid Network
Networking is one of the best currencies you can use to deal in business, and the sector you are in puts you at the center of many networks. You will have the chance to meet and work together with notable people in various industries who will always consider you for partnerships and projects.
5. An MBA Is Flexible
Getting your MBA, won't get in the way of you keeping any previous job you already had. This is because many MBA programs are offered online or part-time giving you the option to acquire your degree at your own pace. You can also attend evening or weekend classes.
6. Credibility
Having an MBA certificate gives you the credibility you need to be respected as an expert in your field. This is what smoothens the road for you to gain the confidence of clients, whether you choose to work in a reputable business firm or build your own company.
7. An MBA Is Globally Recognised
An MBA degree is globally recognised and is compatible with other degree fields. What's more is that if you gained your certificate from a well reputed business school known all over the world, you can use that degree to work in a country of your choice without being doubted.
8. It Improves Your Knowledge
Furthering your basic knowledge of business by pursuing an MBA can improve your knowledge and solidify your place in the business industry. You will have access to know and use sophisticated information and skills that are only revealed when you do an MBA.
9. Good Communication Skills
You will learn how to not just talk to people, but how to persuade and convince them into using business strategies that work for their company. As an MBA student you will be well-versed in the art of salesmanship and getting people to trust your judgement. Also, you will know how to do pitches and talk to investors.
10. An MBA Is Good For Your Personal Development
Doing an MBA, doesn't just change you career wise, but it also transforms you personally. You learn how to make better decisions especially when it comes to investments, starting your own businesses, negotiation, communication, and consultation.
Table Showing The 16 Cheapest Countries for MBA
|
Country |
Cost of MBA |
Cost Of Living |
|
Canada |
CAD 30,435 -CAD31,856 |
CAD 12,000 per year |
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Switzerland |
CHF 28’500 - CHF 70’000 |
CHF1850 per month |
|
China |
RMB 188,000 to RMB 438,000 |
RMB 2,553.20 per year |
|
Ireland |
€8,000 - €30,000 |
€7,000 - €12,000 per year |
|
Malaysia |
MYR 16,606 RM |
MYR 14,400 per year |
|
Germany |
€19000 - €45000 |
€850 per month |
|
Norway |
Free tuition |
NOK 12 352 per month |
|
The Netherlands |
€12,000 - €54,000 |
€800 – €1,100 per month |
|
France |
€14930 - €89000 |
€600 - €800 per month |
|
Mexico |
MXN.721,216.76 |
MXN 41,423 per month |
|
Iceland |
*Depends on the institution* |
ISK 120,000 per month |
|
Sweden |
Free |
SEK 12,000 per month |
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Greece |
1500 - 2000 EUR per year |
450–750 EUR per month |
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Poland |
36,893 - 55,317 PLN per year |
PLN 1,500 |
|
Portugal |
950 to 1300 euros |
500 EUR to 800 EUR per month |
|
Spain |
960 - 1,800 EUR |
900 – 1,100 EUR |
16 Cheapest Countries for MBA
The 16 countries mentioned in this section, are some of the cheapest countries for MBA in the world, which international students can conveniently obtain a business degree in, without needing to struggle with the costs.
We have also mentioned the cost of MBA for international students in each country, as well as the cost of living, and top MBA universities to attend.
1. Canada
Canada is one of the top study destinations for international students, mostly because of its foreigner friendly society, great quality of living, and the fact that it is affordable to study in.
Students seeking a degree in Business have another reason to go here as Canada is the cheapest country for MBA.
Cost of MBA in Canada - CAD 30,435-CAD31,856 per year
Cost of living in Canada - CAD 12,000 per year
Top 10 MBA Universities In Canada
Read Also: Cheapest MBA in Canada for International Students 2024.
2. Switzerland
More than just its beautiful environs, other things that make Switzerland the perfect study destinations, is its cost of education and the fact that it houses some of the top ranking universities in the world. What's more is that Switzerland is one of the cheapest countries to study MBA.
Cost of MBA In Switzerland - CHF 28’500 - CHF 70’000
Cost of living in Switzerland - CHF1850 per month
Top 10 MBA Universities In Switzerland
3. China
Besides being another cheapest country to study MBA, China is loved by international students because of its affordable cost of studying, and it's highly ranked 40 universities which are globally recognised.
Cost of MBA in China - RMB 188,000 to RMB 438,000
Cost of Living in China - RMB 2,553.20 per year
Top 10 MBA Universities In China
4. Ireland
Ireland is the best country to study MBA at a low cost for international students. It is globally regarded as being one of the safest and best countries to study as a foreign student.
Cost of MBA in Ireland - €8,000 - €30,000
Cost of Living in Ireland - €7,000 and €12,000 per year
Top 10 MBA Universities In Ireland
5. Malaysia
Malaysia is one of the cheapest countries to study abroad, which is why it doesn't come as a surprise that this school made it to the list of places to get a cheap MBA abroad.
Cost of MBA in Malaysia - MYR 16,606 RM
Cost of living in Malaysia - MYR 14,400 per year
Top 9 MBA Universities In Malaysia
6. Germany
Germany is generally known by international students from all over the world for its affordable cost of education and living. It easily takes the spot as the cheapest country to do mba.
Cost of MBA in Germany - €19000 to €45000
Cost of Living in Germany - €850 per month (cost varies in several cities)
Top 10 MBA Universities In Germany
7. Norway
Norway is one country that offers free tuition for both its citizens and foreigners, it is attractive to international students because of its availability of English taught programs they can study for free. Business students seeking affordable places further their studies, will be delighted to know that Norway is home to cheap and best MBA colleges abroad.
Cost of MBA in Norway - free *universities in Norway are tuition free*
Cost of Living in Norway - NOK 12 352 per month
Top 6 MBA Universities In Norway
8. The Netherlands
The Netherlands is a good study destination, which welcomes international students to its lands and provides them with access to affordable quality education. It is also the cheapest country for doing mba in Europe, for foreign students.
Cost of MBA in Netherlands - €12,000 - €54,000
Cost of Living in Netherlands - €800 – €1,100 a month
Top 10 MBA Universities In The Netherlands
9. France
What makes France one of the best study destinations in the world for foreign students is the fact that enrollment into a public university qualifies you for a two-thirds fees waiver by the state. Additionally, France has some of the cheapest MBA colleges abroad for international students.
Cost of MBA in France - €14930 - €89000 per year
Cost of Living in France - €600 to €800 per month
Top 10 MBA Universities In France
10. Mexico
Mexico is a country which is rich in culture and takes the position as one of the most visited nations in Latin America. This country has many benefits to offer to foreign students like low tuition fee and cost of living, and English taught programs, but more importantly it is one of the cheapest MBA countries you could ever attend.
Cost of MBA in Mexico - MXN.721,216.76
Cost Of Living in Mexico - MXN 41,423 per month
Top 10 MBA Universities In Mexico
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Universidad Anáhuac México - Facultad de Economía y Negocios
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Universidad Nacional Autónoma de México (UNAM) Facultad de Contaduría y Administración (FCA UNAM)
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Universidad De Las Américas (Udla) Puebla - Escuela De Negocios Y Economía
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Universidad de Guadalajara - CUCEA Centro Universitario de Ciencias Económico Administrativas
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Universidad Autónoma de Nuevo León -Facultad de Contaduría Pública y Administración (FACPYA)
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Universidad Autónoma Metropolitana - División de Ciencias Sociales y Humanidades
11. Iceland
In Iceland, the public universities are tuition free for both EU and non-EU students (international), while the private universities are paid for both categories of students. In addition to being an affordable study destination, Iceland also has the cheapest MBA in foreign country.
Cost of MBA In Iceland - depends on whether you attend a private or public institution.
Cost of Living in Iceland - ISK 120,000 per month
Top 4 MBA Universities In Iceland
12. Sweden
In Sweden, students who are Swedish, or possess a permanent or temporary Swedish residence permit, are exempted from paying application or school fees. Also, students who are citizens of a country in the European Union or European Economic Area, or Switzerland, are not required to pay the tuition or application fee as well.
Besides being tuition free, Sweden tops the list of countries to do a cheap MBA abroad.
Cost of MBA in Sweden - free
Cost of Living in Sweden - SEK 12,000 per month
Top 6 MBA Universities In Sweden
13. Greece
In addition to being among cheap countries to study MBA, Greece also makes for the perfect study destination for international students. This country has stunning World Heritage sites and beaches, which makes foreign students' lives more pleasant during their education.
Greece is rich in culture, has hospitable locals, good food, and a thriving night scene.
Cost of MBA in Greece - 1500 - 2000 EUR per year.
Cost of Living in Greece - 450–750 EUR per month.
Top 10 MBA Universities In Greece
14. Poland
Poland is becoming increasingly popular as one of the top study destinations, amongst international students looking to experience a new culture. All of the things that makes Poland good is its focus on quality education, English taught programs that are over 800, and its safety and good quality of life. Poland is the cheapest country to do mba.
Cost of MBA in Poland - 36,893 - 55,317 PLN per year
Cost of Living in Poland - PLN 1,500 per month
Top 10 MBA Universities In Poland
15. Portugal
Portugal is the cheapest country for doing MBA. International students enrolled into an eligible university in Portugal can enjoy low tuition fees, and fully funded grants and government scholarships.
Cost of MBA in Portugal - 950 to 1300 Euros per year
Cost of Living in Portugal - 500 to 800 Euros per month
Top 7 MBA Universities In Portugal
16. Spain
Spain is said to be one of the most peaceful places to study as an international student, due to its easy going, foreigner friendly locals.
Besides getting immersed in the Spanish culture and enjoying it's tourist sites, the main reason why you should study in Spain as a business student, is because it has the cheapest MBA in foreign country. And you can enroll for any of its English taught MBA programs.
Cost of MBA in Spain - 960 and 1,800 EUR per year
Cost of Living in Spain - 900 – 1,100 EUR per year
Top 7 MBA Universities In Spain
Conclusion: You Don't Have To Keep Putting Off That MBA
If an MBA is really what you want to study, then you should start off the process towards obtaining one. And thanks to these cheapest countries for MBA we have mentioned, half of the work which is finding an affordable place to study an MBA, has already been done for you.
All you need to do now is to look through these countries and check out their top MBA schools, to find the school that is most aligned with your goals. Additionally, you can look through some scholarships on our website to find more funding opportunities in these countries should you need the extra assistance.
Happy Hunting!
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