Interest in studying overseas for a master of business administration (MBA) has fallen for the second year in a row as business schools in home countries improve and concerns mount over cost, polling suggests.

The survey of prospective business school students in November and December found that 31 per cent were considering international study for an MBA.

This was down from 35 per cent when the same question was posed last year, and 39 per cent two years ago.

The report from consultancy CarringtonCrisp, in association with EFMD, said geopolitical strife, an uncertain labour market, the cost of study or tougher visa rules could all be impacting candidates’ decisions.

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“Getting a visa for study has become more difficult in many of the previously leading study destinations, but it has also become more difficult to get a post-study work visa, impacting the potential [return on investment] of an MBA,” it says.

The survey, of 1,646 people across 35 countries, found that half of those choosing to study at home believed there are good business schools offering an MBA in their home country.

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Over a third (37 per cent) said costs were an issue, and a similar proportion (35 per cent) said they could not afford to give up their job to travel overseas. And 15 per cent said they would be unable to get a visa to study internationally.

Moving abroad to study was found to be a much bigger dilemma for women than men – 41 per cent of female respondents cited the cost, compared with 34 per cent of male students.

The report warns that business schools were becoming a “stay at home market” – and not one that involves taking an MBA online.

It says a growing number of business schools are opening campuses in locations outside their home markets, especially in China and the Middle East, as well as in India, South-east Asia and Europe.

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Author Andrew Crisp, co-founder of CarringtonCrisp, said declining international study has myriad causes.

“Stricter visa policies in traditionally leading destination countries such as the US have made international study more difficult. Magnifying this has been the growth of business schools in other parts of the world such as Asia offering students a wider range of options closer to home.”

patrick.jack@timeshighereducation.com