The shift in economic growth and power from west to east is seen to have an impact on a large pool of international students while choosing their study abroad destination for the valuable MBA degree. A look at the Global MBA rankings such as The Financial Times, The Economist and QS and we see how Singapore, China and Hong Kong are also securing their positions as global leaders for business and management education. While established destinations such as US and UK are firmly on top of the list, universities from Singapore, China and Hong Kong are also moving up few places in recent years. As the economies of these countries continue to grow, so are the profiles of the business schools rising and becoming a top choice among MBA abroad aspirants from India and other countries.
Singapore and Hong Kong are two of the most popular MBA abroad destinations among international students from the West (USA and Europe) and particularly from nations in close proximity such as India, Bangladesh, Korea and other parts of NE Asia. According to Financial Times Ranking 2015, NUS Singapore is ranked 30th in the world and Nanyang Business School is placed at 40. Similarly, Hong Kong University of Science and Technology Business School in Hong Kong is ranked the 14th best MBA in the world whereas University of Hong Kong and CUHK Business School are ranked 28th and 30th in the world.
However, whether to choose Singapore or Hong Kong is the big question when it comes to finalize the destination. This article shows some key comparison criteria between the two destinations and help you figure out which destination to choose and why.
Why MBA from Singapore
Singapore has several competitive advantages that position it well as a global education hub. Gateway to Asia, it includes a strategic geographical location, reputation for educational excellence, a vibrant business hub and a safe and cosmopolitan environment. Singapore is an ideal destination for those who want to secure a career in Asia and in countries abroad doing business in Asia. More and more students particularly from India choose to stay close to home and are shifting towards Singapore for their MBA degrees.
Perfect Blend of East and West
Singapore offers management education through an Asian and a Global perspective opening up plenty of opportunities. Graduates get in-depth insight of the Asian economy as well as the western market and tradition .With such a global learning experience students can gain the best and current knowledge from across the globe.
Mode of communication is English
Singapore has over 20 different languages. English is the language of instruction in business schools and is also the mode of communication in day-to-day life. This makes the Singapore a largely accessible market. The student community can go on very well without knowing one of the local languages which makes life very easy.
Multicultural Global Exposure
Singapore is known to offer a rich multicultural atmosphere with more than 80,000 international students from more than 120 countries. In NUS alone 91% of the Full Time MBA program is international candidates. Networking and communicating with your peers who comes from various backgrounds and diverse nationalities is a major tool for polishing the personality of a candidate. Exchange programs, international study trips are also a part of the Singapore MBA curricula which gives students the opportunity to experience the global arena.
Best Student City
Known as one of the world’s safest countries, Singapore is one of the world’s Best Student Cities, according to QS Best Student Cities 2015. High standards of living, low crime rate, diverse student community and being voted as one of the happiest cities in the world creates a perfect environment for MBA participants
Great Career Prospects
Foreign students can stay and work in Singapore for 3 years upon graduation as per policies of government funded institutions. This means that you will have an opportunity to work in Singapore immediately after completing the MBA. Job opportunities in Singapore are high compared to other Asian countries due to its location and economy.
Value for Money
The cost of education and living is comparatively lower in Singapore as compared to other MBA destinations like UK and USA. Cost of education will vary as per institution; the program fees ranges from SGD $55000-$60000 (approximately Rs. 25 Lakhs to Rs.30 Lakhs). The MBA programs are shorter in duration lasting around 10-17 months. International students gain deeper insights, global and intercultural exposure and a work permit after doing and MBA in Singapore in almost half the price. Another important factor is that Singapore is easily accessible from India, students can avail cheap flight tickets and the travel time is only about 5 hours! This is definitely a value for money and a good bargain.
Top B-Schools in Singapore
National University of Singapore
Nanyang Business School – Nanyang Technological University
Singapore Management University - Lee Kong Chian School of Business
Why an MBA from Hong Kong
Hong Kong is located on China’s south coast and is one of the world’s leading financial centers. It is recognized as a major business center, financial hub, shopping paradise and an international tourist destination. Hong Kong is nicknamed as the “Pearl of the Orient”, due to the magnificent night-view of the city’s light decorations on the skyscrapers. Doing an MBA from Hong Kong is about discovering and immersing you in the economical growth and thus laying a strong foundation.
Gateway to China
Hong Kong is the perfect gateway to mainland China which is the world’s fastest growing economy. While studying in Hong Kong one can easily travel to China for job interviews and sightseeing. Studying in Hong Kong also provides a platform to enhance your knowledge on the Asian markets. Not only does Hong Kong pave the way to reach the mainland, it also gives China the platform to go global.
A Modern City
Hong Kong is an international city where both English and Chinese languages are prevalent and English mainly is used as the language of instruction. It is a cosmopolitan city with world class infrastructures and a beautiful destination with a fascinating countryside and an amazing skyline. The city is highly developed in finance, legal services, telecommunications, maritime, aviation and media. Additionally, people in Hong Kong are liberal and have an international perspective.
Fusion of modern and traditional practices
Hong Kong provides a unique East meets West culture. Hong Kong is a melting pot of diverse nationalities and cultures. People from all around the world travel to Hong Kong to study, work and to live. It is a place which practices balancing of modern life with traditional Chinese practices. Much of the modern culture was brought during its time as a British colony.
Center of trade with good career opportunities
Hong Kong is the largest source of foreign direct investment for China whereas China is the second largest source of inward direct investment for Hong Kong. Hong Kong is well positioned to be a global center for business and trade especially as a liaison for global businesses interested to do business in China. It is the base for many international chambers of commerce, consulates and a large number of international organizations. Hong Kong does provide a good platform for business graduates to enhance their careers
Top B-Schools in Hong Kong
HKUST Business School (The Hong Kong University of Science and Technology)
The University of Hong Kong (HKU)
CUHK Business School ( The Chinese University of Hong Kong)
For MBA abroad aspirants who aspire to establish a secure career in Asia and learn about the multiple cultures within Asia, Singapore or Hong Kong are ideal locations. Not only are these countries offering ample career opportunities, business schools in Singapore and Hong Kong are offering world class education in a much affordable budget as compared to countries like US or UK. While Singapore is the gateway to Asia opening doors to the rest of the world, Hong Kong is a gateway to mainland China and gives in-depth knowledge of Asian market. Major advantage for applicants from India and nearby countries is the close proximity and simpler visa procedures. For those who have not yet considered these nations must do so now for higher benefits.
Stay tuned to MBAUniverse.com for more updates on B schools in Singapore and Hongkong
