Want to study MBA at an affordable budget. Sound unbelievable, right? Here is everything you should need to know about the cheapest country to study MBA for an Indian student. There are many students who go abroad for taking higher education every year, countries all over the world have started decreasing the tuition fees in order to attract international students.
An MBA can be a great career choice, but finding affordable universities or countries to study, can be quite challenging. So, there is a number of countries to study MBA for an Indian student.
The cost of studying MBA contains not only tuition fees but also hostel and transportation expenses. So, according to the survey, many north Indian students prefer to do MBA in Australia because it is cheapest than studying in the UK, Canada, the U.S., etc.
Most of the country also offers a scholarship for international students, which is free for accommodation, hostel fees, and other related expenses. So, it is better to check the detailed information about the universities before making the final decision.
Tuition Fees for Cheapest Country to do MBA
The tuition fees differ in a country, depending on the different universities, courses, and cities. So, students can apply for an educational loan to enroll in a specific college if they need.
Undergraduate courses take a long duration of time and cost more than the usual one-two years of postgraduate study. But tuition fee should not be taken as a measure of the value of the insight education provide. However, the tuition is less in government-funded colleges than the private universities.
So, for the student who goes abroad for studying there are many scholarships and grants available that can reduce their study expenses. Below has given a detail of the cost of studying in aboard for the benefit of students planning to study abroad.
Cost of Living in Aboard to do MBA
So, on average students spend around $10,000–$12,000 a year on living expenses. But this amount can vary depending upon where the student is staying. If a student is staying in a metropolitan city, then they will have to pay more depending on the accommodation of hostel or suburb.
So, in general, countries with less cost of living involve accommodation, room and boarding, travel, food, textbook, entertainment expenses, and weather-appropriate clothing.
Read on to find the world-class destinations and colleges and preference of courses for each country is a significant favorite between Indian students traveling to study MBA aboard.
Cheapest Country to do MBA for Indian Students
Most of the universities in Germany now offer courses in the English language, so the number of students in Germany has increased who is pursuing MBA. In Europe, Germany is the highest national economy and ranks among the top 10 countries to offer MBA graduates students the highest paid jobs in the nation.
Many colleges in Germany get enrolment over 70% from international students, a huge number of whom are from India with the study abroad scholarship.
So, the cost of pursuing an MBA in Germany can be €19000 to €45000. The cost of living in Germany is €850 per month it can be varied according to the city. So, it is the cheapest country to pursue an MBA course.
Top Institutes of Germany are listed below:
- University of Cologne- Faculty of Economic and Social Science, Management
- HHL-Leipzig Graduate School of Management
- Frankfurt School of Finance and Management
Norway is the only country where the tuition fees are not taken it is free for both its citizen and foreigners, this attracts international students, and also all the courses are taught in English that they can study for free.
So, Business students seek affordable places for their further studies. And it is great to know that Norway is home to the best and cheap MBA colleges aboard. So, in Norway, the cost of living is NOK 12, 352 per month.
The top 5 MBA universities in Norway is:
- BI Norwegian Business School
- NHH-Norwegian School of Economics
- University of Oslo
- University of Agder
- Norwegian University of Life Science
For international students, Canada is one of the top study destinations. Because of its foreigner-friendly environment, great quality of living and the most important fact that is affordable to study in.
Students seeking a degree in Business have another reason to go to Canada as it is the cheapest country for MBA. The cost of doing an MBA IN Canada is CAD 30,435-CAD 31,856 per year. So, the living cost in Canada is CAD 12000 per year.
Top 10 Universities in Canada for MBA:
- University of Toronto
- University of British Columbia
- Simon Fraser University
- University of Waterloo
- McGill University
- Simon Fraser University
- University of Calgary
- Western University
- University of Montreal
- University of Alberta
- York University
Switzerland is already known for its beautiful environment, another reason that makes it the perfect study destination is its cost of education. And the fact that some of its universities are on the list of top-ranking universities in the world.
So MBA in Switzerland is one of the cheapest countries. So, the cost of living in Switzerland is CHF 1850 per month. The cost of an MBA in Switzerland is between CHF 28,500-CHF 70,000.
List of top 10 MBA universities in Switzerland
- EU Business School
- IMD Business School
- Geneva Business School
- Rushford Business School
- University of Zurich
- American University in Switzerland
- University of Lausanne
- University of St. Gallen
- Swiss Federal Institute of Technology Zurich
- Universite de Geneva- Geneva School of Economics and Management
It is one of the best countries to study MBA at a low cost for international students. It is regarded as one of the safest and best countries to study as a foreign student worldwide. So, the cost of doing an MBA in Ireland is €8,000 – €30,000. So, the living cost can be €7,000 and €12,000 per year in Ireland.
Top 10 MBA Universities in Ireland
- University College Dublin
- Trinity College Dublin
- University College Cork
- University of Limerick
- Dublin City University
- Dublin Institute of Technology
- Irish Management Institute
- National University of Ireland
- Griffith College Dublin
- IBAT College Dublin
This is one of the cheapest countries to study abroad, which is why it doesn’t come as disbelief that this school made it to the list of places to get a cheap MBA aboard. So, the MBA cost in Malaysia is MYR 16,606 RM. So, the living cost in Malaysia is MYR 14,400 per year.
Top 9 MBA Universities in Malaysia
- Universiti Malaya
- Universiti Teknologi Malaysia
- Strathclyde Business School – Malaysia
- SEG International Bhd
- International Islamic University of Malaysia (IUM)
- Universiti Kebangsaan Malaysia (UKM)
- Universiti Sains Malaysia
- Asia School of Business
- Universiti Tunku Abdul Rahman (UTAR)
- Asia School of Business
The Netherland is a very nice destination for international students that offer land and provides them with affordable quality education. In Europe, it is also the cheapest country for pursuing MBA for Foreign students. So, the cost of an MBA in the Netherland is €12,000 – €54,000. So, the living cost in Netherland is €800 – €1,100 a month.
Top 10 MBA Universities in The Netherlands
- University of Amsterdam
- Maastricht University
- Erasmus University Rotterdam
- Nyenrode Business University
- Hanze University of Applied Sciences
- Rotterdam University of Applied Sciences
- Inter College Business School
- Maastricht School of Management
- TIAS School for Business and Society
- Open Universiteit Nederland
In Sweden, the students are exempted from paying application or schools fees who possess a permanent or temporary Swedish residence permit. So, the students who are citizens of the European Union European Economic Area, or Switzerland are not mandatory to pay the tuition and application fee as well. Sweden also tops the list of countries to da a cheap MBA aboard. So, the living cost in Sweden can be SEK 12,000 per month.
Top 6 MBA Universities 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
- Uppsala Universitet
So, Mexico is one of the most visited nations in Latin America and the country has a rich culture. This country has various benefits that offer to foreign students like fewer tuition fees and living costs and programs in the English language, but most importantly it is one of the cheapest countries to take an MBA course you could ever attend. The cost of living in Mexico is MXN 41,423 per month. So, the MBA course cost in Mexico is MXN.721,216.76.
List of Top 10 MBA universities in Mexico
- IPADE Business School
- Universidad de Monterrey – UDEM Business School
- Universidad Anáhuac México – Facultad de Economía y Negocios
- ITAM – Instituto Tecnológico Autónomo de México
- Universidad De Las Américas (Udla) Puebla – Escuela De Negocios Y Economía
- Universidad de Guadalajara – CUCEA Centro Universitario de Ciencias Económico Administrativas
Spain is one of the most peaceful places to study for an international student because of its easy-going and foreigner-friendly environment. Although getting immersed culture in Spanish and enjoying its tourist sites, the major reason why a business student should study in the span is that it has the cheapest MBA in a foreign country. So, the cost of doing an MBA in Spain is 960- 1800 EUR per year. So, the cost of living in Spain is 900-1100 EUR per year.
Top 6 MBA Universities in Spain
- Universidad de Navarra
- ESADE Business School – Barcelona Campus
- IE Business School
- Universidad Carlos III de Madrid (UC3M)
- ESCP Europe – Madrid Campus
- ESIC Business & Marketing School
If a student really wants to study MBA, then you should start the process towards obtaining one. And thanks for the cheapest countries for MBA we have mentioned above and half of your is done which is finding an affordable place to study an MBA.