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Text Box: INTERNATIONAL STUDENTS: COUNTRY COMPETITOR ANALYSIS Chartered Association of Business Schools September 2025

Executive Summary

This report presents the results of an analysis comparing the competitive position of the UK in the market for international students with key country competitors. It uses open data sources to compare each country’s offer for international students based on several criteria, including cost, academic reputation, country safety/attractiveness, and aspects related to government policy, such as student number caps.

The analysis finds that each country’s offer has different strengths and weaknesses. Countries such as the UK and the U.S boast universities with very high academic prestige but are very expensive to study and live in. In contrast, studying in China and Japan entails much lower costs than in Western countries but there are fewer highly ranked institutions in China and Japan.

Amongst the traditional markets for international students, a tightening of government policy towards international students is observed which may be to the advantage of newer competitor countries such as China. The UK has banned visas for dependents (except for PGR students), while Australia and Canada have introduced caps on international student numbers and the Netherlands will soon do the same.

Also noted is the significant variation in certain aspects of the offer from universities in each country. The UK, Netherlands and Ireland typically offer one year PGT programmes whereas in the rest of the countries two year programmes are standard. Opportunities for scholarships for international students range from limited in the UK and the U.S to extensive in the EU countries and China and Japan. There is also significant variation between countries in opportunities to study for short periods in a third country.

In relation to the UK itself, it retains many of the selling points that have led it to become one of the top study destinations in the world. Its institutions are highly ranked, it has a positive perception by young people internationally, and is considered to be a safe place. However, this analysis finds that the UK is an expensive study destination, not only compared to competitor countries in Asia, but also compared to some EU countries such as France, Germany and Italy. The UK also has very limited scholarship opportunities for international students compared to most other countries in the analysis.

The policy changes introduced in the UK since 2023, most notably the ban on dependents’ visas, reduce the attractiveness of the UK to prospective international students and offer the opportunity to competitor countries, both traditional and new, to increase their market share at the UK’s expense. One of the remaining advantages held by the UK that is perhaps underplayed is the opportunity to obtain qualifications that are accompanied by accreditations awarded by UK professional bodies. The data obtained from Study Portals shows that the UK is second only to the U.S in terms of availability of such programmes, although this is partly a reflection of the fact that such accreditations are only available through programmes delivered in English. Such accreditations may be another mechanism by which the UK can convey soft power internationally.

 Summary of competitor countries – Europe

 UKGermanyFranceItalyNetherlandsIreland
  Post-study options  18 monthsUp to 18 months with possibility to extend to PRUp to 12 months with possibility to extend to PRUp to 12 months with possibility to extend to PRUp to 12 months with possibility to extend to PR1 year for UG, 2 years for PG
Costs*HighLowLowLowMediumHigh
Academic reputation**15/132/45/10/02/60/0
Scholarship opportunitiesLimitedExtensiveExtensiveExtensiveExtensiveModerate
Attractiveness***2nd8th5th1stN/AN/A
Safety and Security****4th5th8th7th2nd1st
Student number capsNo capNo capNo capNo capProposed cap 2025No cap
Student dependents permittedNo (PGR only)Yes (subject to requirements)Yes (subject to requirements)Yes (subject to requirements)Yes (subject to requirements)No (PGR only)
Typical PGT course duration1 year2 years2 years2 years1 year1 year
Opportunities to study in third countryExtensiveExtensiveExtensiveExtensiveExtensiveExtensive
Associative qualifications (e.g. professional accreditations) ^ExtensiveLimitedModerateLimitedLimitedModerate

 Summary of competitor countries – Rest of the world

 UKAustraliaCanadaUSAChinaJapan
  Post-study options  2 years, under review  2 years for B&M3 years, with possibility to extend to PR  Up to 12 monthsDependent on employmentUp to 12 months
Costs*HighVery HighMediumHighestLowLow
Academic reputation**15/136/65/524/375/64/2
Scholarship opportunitiesLimitedExtensiveExtensiveLimitedExtensiveExtensive
Attractiveness***2nd7th3rd6th15th4th
Safety and Security****4th3rd6th                 10th9th1st
Student number capsNo capCapCapNo capNo capNo cap
Student dependents permittedNo (PGR only)Yes (subject to requirements)Yes (spouses only)Yes (subject to requirements)Yes (for limited stays)Yes
Typical PGT course duration1 year1-2 years1-2 years2 years2 years2 years
Opportunities to study in third countryExtensiveModerateModerateExtensiveLimitedModerate
Associative qualifications (e.g. professional accreditations) ^ExtensiveModerateModerateExtensiveLimitedN/A

Key for traffic light system:

Green – Indicates that for this metric the UK has a strong competitive advantage.

Amber – Indicates that for this metric the UK has no clear advantage or disadvantage.

Red – Indicates that for this metric the UK has a strong competitive disadvantage.

Notes and sources

* Costs including average tuition fees and living expenses

** numbers indicate the count of universities ranked in the top 100 according to QS and Times Higher Education respectively

*** based on British Council Global Perceptions report 2023, “How attractive overall do you find each of the following countries?”

**** based on the Societal Safety and Security domain in the 2024 Global Peace Index

^ data on associative qualifications is taken from the StudyPortals database and covers programmes delivered in English language only.

Data on average cost of tuition fees taken from HSBC[1]

Competitor countries – Europe

France

France has very low study-related costs and flexible post-study opportunities. Additionally, business and management is the most popular subject area among international students in France. However, it is worth noting that international students in France tend to come from a very different set of countries compared to the UK and other English-speaking countries in this study. France’s top countries of origin for international students are mostly French-speaking African countries, meaning they might not be in such direct competition with the UK.

Post-study options
Non-EU students can apply for a temporary residence permit for 12 months. They can live and work in France indefinitely upon entering employment that pays 1.5x national minimum wage. Students from certain countries (mostly in French-speaking Africa but also including, notably, India) have special arrangements.
Costs
Negligible student fees.
Academic reputation
QS rankings: 5 universities in the top 100 for Business and Management, 2 in the top 20, of which 1 is ranked 2nd worldwide. THE rankings: 1 university in the top 100 for Business and Management, 0 in the top 20
Scholarship opportunities
France has a wide variety of scholarships available to international students at all levels, offered by the Ministry of Education, public institutes, and private organisations.
Attractiveness
Ranked 5th in the British Council’s 2023 Global Perception report.
Safety and Security
France ranked 87th overall in the 2024 Global Peace Index, scoring an average 1.826 in the Societal Safety and Security domain.
Student numbers caps
No caps
Student dependents policy
Visas for dependents can be issued subject to requirements related to accommodation and financial means.
Typical PGT course duration
The average Master’s course duration is two years. The second year may include an internship.
Opportunities to study in third country
Students from non-EU countries may have the opportunity to participate in the Erasmus Mundus Joint Master Degrees programme or student or youth exchange programmes. Iceland, Liechtenstein, North Macedonia, Norway, Serbia and Turkey are associated to the Erasmus+ programme so students from these countries can participate in most of the normal components of Erasmus. Multiple universities in France offer dual degrees which enable a student to receive a second degree from a partner university abroad in addition to an exchange study year in that country. Several universities, such as Sciences Po and HEC Partis, have bilateral agreements with partner universities so that students can undertake extended periods of study abroad.
Associative qualifications
The StudyPortals data shows that there are 34 business school programmes that offer an accredited qualification. This is one of the highest totals for the non-English speaking countries included in the dataset, with only Malaysia and U.A.E offering a larger number of such programmes The PMP accreditation is most commonly offered by business schools in France, followed by the CFA.

Germany

Like France, university fees are virtually non-existent (while there are no tuition fees, students must pay small administrative fees) and there are a host of scholarships to help students cope with study-related costs, making Germany a very cheap destination. However, Business and Management is not a particularly popular subject area amongst international students in Germany, who prefer to study STEM subjects. Business and Management is grouped with Economics, Law, and Social Sciences, which together account for 25% of international students’ chosen area of study in Germany.

Post-study options
Non-EU students can apply for a temporary residence permit of up to 18 months; upon finding employment that meets salary requirements, they can apply for the EU Blue Card, which can be converted to permanent residence after 33 months.
Costs
Negligible student fees.
Academic reputation
QS rankings: 2 Universities in the top 100 for Business and Management, 0 in the top 20. THE rankings: 4 Universities in the top 100 for Business and Management, 0 in the top 20.
Scholarship opportunities
Germany has a wide variety of scholarships available to international students at all levels, offered by the federal government, private organisations, universities, and state governments.
Attractiveness
Ranked 8th in the British Council’s 2023 Global Perception report.
Safety and Security
Germany ranked 20th overall in the 2024 Global Peace Index, scoring an average of 1.581 in the Societal Safety and Security domain.
Student numbers caps
No caps
Student dependents policy
Visas for dependents can be issued subject to requirements related to accommodation and financial means.
Typical PGT course duration
The average Master’s course duration is two years. The length can vary depending on whether the student decides to do an internship or an exchange semester abroad.
Opportunities to study in third country
Students from non-EU countries may have the opportunity to participate in the Erasmus Mundus Joint Master Degrees programme or student or youth exchange programmes. Iceland, Liechtenstein, North Macedonia, Norway, Serbia and Turkey are associated to the Erasmus+ programme so students from these countries can participate in most of the normal components of Erasmus. Multiple universities in Germany offer dual degrees which enable a student to receive a second degree from a partner university abroad in addition to an exchange study year in that country.
Associative qualifications
Only five business schools in Germany offer programmes with associative accreditations, two with the CFA, and one each for the CIM, CPA and HR Certification. 

Ireland

Ireland has several strengths as a study destination, with reasonable post-study options, a high ranking for safety and security, membership of the Erasmus scheme, and a large number of programmes which offer associative professional qualifications. In terms of drawbacks, tuition fees and cost of living are high, and there are no Irish universities in the top 100 of the QS and THE rankings.

Post-study options
Under Ireland’s Third Level Graduate Scheme, international students can remain in Ireland for a post-graduation period if they have graduated with a Bachelor’s, Master’s or doctoral degree. Bachelor’s degree graduates can remain for 12 months and Master’s or doctoral degree graduates for 24 months. This scheme permits graduates to work for up to 40 hours per week, however, to work above 40 hours per week, the non-EEA student must obtain a relevant work permit.
Costs
Tuition fees are relatively high in Ireland and are generally at least $11,500 annually. Living costs are also quite high, ranging between $11,500 to $17,500 per year.
Academic reputation
QS rankings: No universities in the top 100 for Business & Management. Two ranked between 100 and 200, four between 300 and 400, and one between 600 and 650. THE rankings: No universities in the top 100 for Business & Management. One ranked between 100 and 200, two between 200 and 300, three between 350 and 400, two between 500 and 650, and one between 1,000 and 1,200.
Scholarship opportunities
Scholarships are available through the Government of Ireland Education Scholarship and the Irish Research Council Postgraduate Scholarship Scheme but these are limited to high-calibre students. The Irish Aid Fellowship scheme offers the opportunity to spend one year studying in Ireland for postgraduate students in areas linked to the UN SDGs. Some universities also have their own scholarship schemes.
Attractiveness
No data for attractiveness is available for Ireland as they are not included in the British Council ‘Global Perceptions’ report as they are not a G20 country.
Safety and Security
Ireland ranked 2nd overall in the 2025 Global Peace Index, scoring an average of 1.427 in the Societal Safety and Security domain.
Student numbers caps
No caps
Student dependents policy
Visas for dependents are not available
Typical PGT course duration
Usually one year for a full-time PGT course
Opportunities to study in third country
Students from non-EU countries may have the opportunity to participate in the Erasmus Mundus Joint Master Degrees programme or student or youth exchange programmes. Iceland, Liechtenstein, North Macedonia, Norway, Serbia and Turkey are associated to the Erasmus+ programme so students from these countries can participate in most of the normal components of Erasmus. At least four universities in Ireland offer dual degrees which enable a student to receive a second degree from a partner university abroad in addition to an exchange study year in that country. Trinity College Dublin and University College Dublin have bilateral agreements with partner universities so that students can undertake extended periods of study abroad.
Associative qualifications
Of the countries in the StudyPortals dataset Ireland has the fifth highest number of business school programmes with associative professional qualifications. This amounts to 51 programmes, half of which are the ACCA, followed by the HR Certification offered by 17 programmes.

Italy

Italy is considered the most attractive study destination according to the British Council’s 2023 Global Perception report, narrowly surpassing the UK with a difference of just 1%. Most Universities offer nearly free tuition, good opportunities to stay in Italy and work towards getting a permanent residency which likely all contribute towards this. However, in the same report that ranked it 1st for attractiveness, it came far behind the UK in terms of trust in Government, trust in institutions.

Post-study options
Non-EU students can apply for a post-study work visa that allows individuals to stay in Italy for 9-12 months to find work.
Costs
Tuition fees vary according to institution and level of study with bachelors being significantly cheaper on average, with costs ranging from $500 to $9,800 at the undergraduate level.
Academic reputation
QS rankings: 3 Universities in the top 100 for Business and Management, 1 of which is in the top 20. THE rankings: 0 Universities in the top 100 for Business and Management.
Scholarship opportunities
Most funding options are offered by the Italian government or universities.
Attractiveness
Ranked 1st in the British Council’s 2023 Global Perception report.
Safety and Security
Italy ranked 33rd overall in the 2024 Global Peace Index, scoring an average 1.737 in the Societal Safety and Security Domain.
Student numbers caps
No caps
Student dependents policy
Visas for dependents can be issued subject to requirements related to accommodation and financial means. Dependents’ visas will only be issued for spouses of students.
Typical PGT course duration
The average Master’s course duration is two years.
Opportunities to study in third country
Students from non-EU countries may have the opportunity to participate in the Erasmus Mundus Joint Master Degrees programme or student or youth exchange programmes. Iceland, Liechtenstein, North Macedonia, Norway, Serbia and Turkey are associated to the Erasmus+ programme so students from these countries can participate in most of the normal components of Erasmus. Multiple universities in Italy offer dual degrees which enable a student to receive a second degree from a partner university abroad in addition to an exchange study year in that country. Universities such as Sapienza in Rome and Boccini operate exchange programmes which allow students to spend a certain amount of time (e.g. a term) studying abroad at a partner university.
Associative qualifications
There are only six business school programmes in Italy that offer accredited associative qualifications according to StudyPortals.

The Netherlands

The Netherlands offers the NL Scholarship, a significant state-sponsored scholarship for students from outside the European Economic Area, along with various scholarships from non-profit organizations targeting students from less economically developed countries such as Indonesia. The Netherlands also offers a vast array of courses taught in English, more so than most other European countries. Most international students originate from Germany, Italy and Romania, with incoming Chinese students declining since 2017 according to a 2022 Nuffic report on Incoming degree mobility in Dutch higher education 2021-22, except for China at 4th, all the top 10 countries of origin for Dutch institutions are within the EU.

Post-study options
The Orientation year allows students to work in The Netherlands for a year after they completed their studies. Once obtained a job then you can apply for a residence permit as a highly skilled migrant, start-up or self-employed.
Costs
Low to reasonably high tuition fees ($6455 – $21517 p/a). Tuition for non-EEA students ranges a great deal from institution to institution.
Academic reputation
QS rankings:  2 Universities in the top 100 for Business and Management, 1 of which in the top 20 THE rankings: 5 Universities in the top 100 for Business and Management, 1 of which in the top 20
Scholarship opportunities
The Netherlands has a wide range of scholarships that are available to international students, including the NL Scholarship from the Dutch Ministry of Education – only available to students outside the EEA for a bachelors or masters. Non-profit organisations offer scholarships for international students.
Attractiveness
No data for attractiveness is available for the Netherlands as they are not included in the British Council ‘Global Perceptions’ report as they are not a G20 country.
Safety and Security
The Netherlands ranked 18th overall in the 2024 Global Peace Index, scoring an average 1.482 in the Societal Safety and Security domain.
Student numbers caps
In November 2024 a bill was proposed that would limit the number of Bachelor’s degrees which can be taught in languages other than Dutch, and enable universities to cap the number of students on an English-language track of a degree offered in both Dutch and English. If the bill is passed, these proposals will come into effect in September 2025.
Student dependents policy
Visas for dependents can be issued subject to requirements related to accommodation and financial means. Dependents’ visas will only be issued for spouses of students.
Typical PGT course duration
Academic Master’s courses (including in Business) typically take one year to complete while research Masters, teacher training programmes, and courses in agriculture, science, math, and engineering usually take two years.
Opportunities to study in third country
Students from non-EU countries may have the opportunity to participate in the Erasmus Mundus Joint Master Degrees programme or student or youth exchange programmes. Iceland, Liechtenstein, North Macedonia, Norway, Serbia and Turkey are associated to the Erasmus+ programme so students from these countries can participate in most of the normal components of Erasmus. Multiple universities in the Netherlands offer dual degrees which enable a student to receive a second degree from a partner university abroad in addition to an exchange study year in that country. Universities such as Amsterdam and Leiden operate exchange programmes which allow students to spend a certain amount of time studying abroad at a partner university.
Associative qualifications
The data from StudyPortals indicates there are only six business school programmes in The Netherlands that offer accredited associative qualifications according to StudyPortals.

United Kingdom

The UK is one of the most attractive study destinations in the world. It is second only to the U.S in terms of academic prestige as measured by the standing of its institutions in the QS and THE rankings and many business school programmes come with qualifications accredited by UK professional bodies. The UK has the second highest ranking in the British Council’s ‘Global Perceptions’ report and many UK universities offer students the chance to study in a third country through dual degree programmes or other arrangements. The UK’s post-study offer remains attractive despite the imminent reduction of the Graduate Route to 18 months. This reduction along with the ban on dependents’ visas and the high costs of tuition and living risk further eroding the UK’s strong competitive position for international students.

Post-study options
The Graduate Route will be reduced from two years to 18 months starting in 2026. Options for switching from the Graduate Route to a Skilled Worker Visa have been made more restrictive due to the increase in the salary threshold and a reduction in the roles considered eligible for a Skilled Worker Visa.
Costs
High average tuition fees for international students ($20,542 average p/a), high costs of living ($13,604 p/a).
Academic reputation
QS rankings: 15 universities in the top 100 for Business and Management, 4 in the top 20 of which 3 are in the top 10. THE rankings:  13 universities in the top 100 for Business and Management, 3 in the top 20 of which 2 are in the top 10.
Scholarship opportunities
Universities tend to offer their own scholarships, with a handful of very competitive non-university scholarships available to international students from specific countries.
Attractiveness
Ranked 2nd in the British Council’s 2023 ‘Global Perceptions’ report.
Safety and Security
The UK ranked 34th overall in the 2024 Global Peace Index, scoring an average 1.569 in the Societal Safety and Security domain.
Student numbers caps
No caps
Student dependents policy
Dependents’ visas will only be issued for PGR students.
Typical PGT course duration
Academic Master’s courses (including in Business) typically take one year to complete.
Opportunities to study in third country
International students in the UK have abundant opportunities to study in a third country although the availability of specific types of arrangements will depend on the institution they are studying with. Some universities operate exchange programmes with institutions overseas or international internships. Multiple UK universities offer dual degrees at undergraduate and/or postgraduate level. On graduation these programmes will award a degree from a UK university in addition to a partner university abroad. Students undertaking a dual degree will typically spend an exchange year studying in the country of the partner university. Non-EU students are also eligible for study or work placements under the UK’s Turing scheme.
Associative qualifications
From the 53 countries included in the StudyPortals dataset, the UK has the second highest number of business school programmes offering associative accreditations, second only to the U.S. The accreditations offered are ACCA, CFA, CIM, CIMA, CPA, HR Certficiation, PMP and Prince 2. The three most commonly offered are CIM (offered by 321 programmes), ACCA (251 programmes) and PMP (240 programmes).

Competitor countries – Rest of the world

Australia

In addition to China and the South Asian countries, Australia is a particularly popular study destination among internationally mobile students from Southeast Asia. Business and Management is a particularly popular subject among international students, but study costs are on average very high.

Post-study options
Temporary post-study visa for up to 2 years, including visa for immediate family members. Business and Management students are ineligible for extension of a further 2 years unless they did a combined degree or a PhD.
Costs
High tuition fees ($23,575 average p/a) with very high costs of living ($14,502 p/a).
Academic reputation
QS rankings:. 6 universities in the top 100 for Business and Management, 0 in the top 20. THE rankings: 6 universities in the top 100 for Business and Management, 0 in the top 20.
Scholarship opportunities
Australia offers an array of scholarships to international students at all levels, with 250 million AUD spent on scholarships for international students in the academic year 2022/23. Scholarships are available to students from the UK, USA, and 55 ‘developing’ countries.
Attractiveness
Ranked 7th in the British Council’s 2023 Global Perception report.
Safety and Security
Australia ranked 19th overall in the 2024 Global Peace Index, scoring an average of 1.513 in the Societal Safety and Security domain.
Student numbers caps
The previous policy directive to cap students at 270,000 in 2025 was blocked by political opposition and the latest policy enacted in December 2024 will introduce two categories of student visa processing: high priority and standard priority. All universities will receive high priority processing up to 80% of their indicative international student cap. Once each institution reaches 80% of its cap, other institutions will be prioritised for processing, which means those in the standard priority queue will see delays to applications. The policy is seen as acting as a cap by the ‘back door’.
Student dependents policy
Visas for dependents can be issued subject to requirements related to accommodation and financial means.
Typical PGT course duration
Postgraduate courses involving coursework typically last between 1 and 2 years, but can be longer if a placement is involved. Research Master’s usually last 2 years.
Opportunities to study in third country
Exchange programmes that international students can participate in appear to be more limited than at European universities which have the Erasmus scheme. However, some Australian universities do offer exchange programmes (e.g. University of Wollongong and University of Western Australia) and many offer dual degrees with partner universities overseas.
Associative qualifications
Australia has the fourth highest number of business school programmes with associative accredited qualifications according to the StudyPortals data, with 100 in total. Nearly half of these are the CPA, followed by the ACCA (27 programmes), and CFA (14 programmes).

Canada

The number of international students in Canada has grown most rapidly of any other country on the list. They have the most generous graduate visa programme among the countries included in the analysis and enjoy a very positive perception among the G20 countries, just behind that of the UK.

Post-study options
Temporary Post-Graduation Work Permit for 3 years, with a variety of options to progress to permanent residence.
Costs
Reasonable tuition fees ($15,591 p/a), relatively high costs of living ($11,737p/a)
Academic reputation
QS rankings:. 5 universities in the top 100 for Business and Management, 0 in the top 20. THE rankings: 5 universities in the top 100 for Business and Management, 0 in the top 20.
Scholarship opportunities
Canada offers scholarships for international students at all levels from a selection of countries across the world.
Attractiveness
Ranked 3rd in the British Council’s 2023 Global Perception report.
Safety and Security
Canada ranked 11th overall in the 2024 Global Peace Index, scoring an average of 1.66 in the Societal Safety and Security domain.
Student numbers caps
For 2025 the international student permits that will be issued in Canada will be limited to 437,000, down by 10% from the 2024 target of 485,000. The cap for 2026 will remain at the same level and will include Master’s and PhD students.12% of the allocated spaces will be reserved for these students in recognition of their benefits to the Canadian labour market.
Student dependents policy
Visas for dependents can be issued subject to requirements related to accommodation and financial means. Dependents’ visas will only be issued for spouses of students.
Typical PGT course duration
Postgraduate courses involving coursework typically last between 1 and 2 years, but can be longer if a placement is involved.
Opportunities to study in third country
Opportunities for international students to study abroad don’t seem to be as widely available in Canada compared to European universities, but individual universities do operate exchange programmes with partner institutions in multiple countries (Western University and University of Ottawa). Several universities in Canada offer dual degrees with partner institutions in other countries.
Associative qualifications
The StudyPortals data reveals that there are 117 business school programmes that offer associative accreditations. Of these the most common is the CPA (52 programmes), followed by the CFA (26 programmes), CIM (16 programmes), and the CMA (12 programmes).

China

China is the only country on this list which provides generous government scholarships including monthly stipends to citizens of any country. Together with low living costs, growing recognition of the quality of their universities, and an expanding course offering in English, it may grow into a very popular study destination. However, they have the strictest approach to post-study opportunities.

Post-study options
Recently revamped but very complicated; international students may apply for work visas following their studies but must have secured employment meeting salary thresholds. It is a points-based system, and eligibility depends on the institution they graduated from, degree subject, the location of their employment, and industry of their employer, among other things.
Costs
Very low tuition fees ($3,813 p/a) and costs of living ($7,452 p/a).
Academic reputation
QS rankings:. 5 universities in the top 100 for Business and Management, 0 in the top 20. THE rankings: 6 universities in the top 100 for Business and Management, 2 in the top 10.
Scholarship opportunities
China offers generous scholarships through the Chinese Scholarship Council, a government office. Scholarships cover the full amount of tuition fees and lodging and include monthly allowances the sum of which depends on the location of the university. Unlike the other countries, CSC scholarships are available to students from any country in the world.
Attractiveness
Ranked 15th in the British Council’s 2023 Global Perception report.
Safety and Security
China ranked 89th overall in the 2024 Global Peace Index, scoring an average 2.011 in the Societal Safety and Security domain.
Student numbers caps
No caps – China is looking to grow the number of international students in the country.
Student dependents policy
Dependents’ visas will be issued for visits of a maximum of 180 days.
Typical PGT course duration
Master’s programmes will typically be two years in duration but some may extend to three years.
Opportunities to study in third country
Very limited evidence found of opportunities for exchange programmes or placements for international students in China. It appears that such opportunities are limited to dual degrees which some universities in China offer in partnership with universities in the West.
Associative qualifications
There are 14 business school programmes in China with associated qualifications according to StudyPortals. Half of these offer the CPA, with the rest being the ACCA (3 programmes), and the CFA and CIM with two programmes each.

Japan

Japan is looking to grow its share of the international students market and certain aspects of its offer are strong. It is viewed as one of the most attractive countries in the G20, its cost of tuition is much lower than in Western countries, and it offers an array of scholarships and opportunities to study in third countries. It also has reasonable post-study options and a fairly accomodating offer for student dependents.

Post-study options
Japan offers international students a ‘Designated Activities’ visa for recent graduates, allowing them to stay in the country for 6 months, and can be extended by an additional 6 months, while they seek employment in Japan.
Costs
The cost of tuition in Japan is significantly lower than the UK, with international students paying an average of around $4800 USD annually.
Academic reputation
QS rankings:. 1 University in the top 100 for Business and Management. THE rankings: 2 Universities in the top 100 for Business and Management.
Scholarship opportunities
Japan has a wide range of scholarship opportunities, the majority of which are available after arriving in Japan. They are funded by local governments, local international associations and private foundations which accept applications from overseas. These include: the Japanese government Monbukagakusho MEXT scholarship and Monbukagakusho Honors Scholarship for Privately Financed International Students.
Attractiveness
Ranked 4th in the British Council’s 2023 Global Perception report.
Safety and Security
Japan ranked 17th overall in the 2024 Global Peace Index, scoring an average 1.336 in the Societal Safety and Security domain.
Student numbers caps
No caps – Japan is looking to grow the number of international students in the country.
Student dependents policy
Visas for dependents can be issued but are only available for spouse and children.
Typical PGT course duration
Master’s degrees in Japan are two years in duration.
Opportunities to study in third country
International students in Japan may have the opportunity to study abroad through exchange programmes between universities in Japan and third countries. Some Japanese universities also offer dual degree programmes with partner institutions abroad.
Associative qualifications
The StudyPortals data suggests that there are no business school programmes delivered in the English language in Japan that offer associative accredited qualifications. However, there may be similar accreditations offered in languages other than English.

USA

The USA has the most universities ranked in the top 100 for Business & Management, but study costs are the highest among the countries studied and their post-study opportunities are very limited. It remains the most popular destination for international students globally.

Post-study options
Up to 12 months for non-STEM subjects
Costs
Highest average tuition fees at $29,254, high costs of living ($12,054 p/a).
Academic reputation
QS rankings:. 24 universities in the top 100 for Business and Management, 9 in the top 20, including the top ranked Business school in the world, Harvard Business School. THE rankings: 37 universities in the top 100 for Business and Management, 13 in the top 20, including the top three, MIT, Stanford, and Harvard.
Scholarship opportunities
Scholarships in the USA tend to be provided by universities directly or by private organisations, with eligibility varying between each university.
Attractiveness
Ranked 6th in the British Council’s 2023 Global Perception report.
Safety and Security
The US ranked 132nd overall in the 2024 Global Peace Index, scoring an average of 2.518 in the Societal Safety and Security domain.
Student numbers caps
No cap imposed by the government but some institutions have quotas for international students to ensure there are sufficient places on courses for U.S nationals.
Student dependents policy
Visas for dependents can be issued subject to requirements related to accommodation and financial means.
Typical PGT course duration
Master’s degrees in the U.S usually take two years to complete but some courses can be shorter.
Opportunities to study in third country
The Department of State Bureau of Educational and Cultural Affairs Exchange Program is accessible to non-U.S citizens. Numerous U.S universities operate exchange programmes with partner universities overseas and/or dual degrees.
Associative qualifications
The USA has more business school programmes with associative accreditations than any country in the StudyPortals dataset with 1,204 programmes, narrowly ahead of the UK’s 1,148 programmes. Three-quarters of these programmes offer the CPA, with the next most frequently offered accreditations being the CFA (193 programmes) and the PMP (58 programmes).

Language of instruction

For this analysis top five Universities of these non-English language countries were used as representative examples.

China: The main language of instruction is Mandarin. However, all top 5 universities offer courses in English, including Business and Management, and have large international colleges.

Italy: The main language of instruction is Italian. Nonetheless, all top institutions offer undergraduate courses in English, with some providing Business and Management courses in English. Some institutions accept IELTS and DET to prove proficiency in English to enrol onto their courses.

Germany: The main language of instruction is German. Three of the top 5 institutions offer courses entirely in English, with a handful of institutions offering Business and Management related courses. Of these, two offer only master’s courses, while one offers undergraduate courses entirely in English. Some courses require a CEFR level in English.

Netherlands: The main language of instruction is Dutch. Three of the top 5 institutions offer an undergraduate course in subject that is allied to Business, e.g. International Business and Business Administration. One institution offers a postgraduate course in Sustainable Business and Innovation. English taught courses require TOEFL iBT Test, IELTS Academic and Cambridge C1 Advanced or C2 Proficiency.

France: The main language of instruction is French. Four of the top 5 universities offer postgraduate courses delivered in the English language, and one university offers an undergraduate course entirely in English. Of the institutions reviewed, one university offered a Business and Management related postgraduate course. Courses in English require certifications such as TOEFL (CBT, iBT), IELTS or Duolingo.

Japan: The main language of instruction is Japanese, however, in recent years, because of globalisation of Japanese universities, there has been an increase in the number of universities offering undergraduate courses entirely in English, including Business and Management courses. English only courses require TOEFL iBT (71-80) or IELTS (5.5 – 6). However, it should be noted that to gain post-study employment in Japan, it is considered essential to learn Japanese.

Variation in costs

Analysis of cost of living by country and key cities

The following compares the data, where available, for the most populous cities in the countries in this analysis. A standardised ‘Cost of living’ rank was used obtained from Numbeo.com[2]. The index provided is relative to New York City, with a baseline of 100%.

The index indicates the relative prices of consumer goods like groceries, restaurants, transportation, and utilities. It excludes accommodation expenses such as rent of mortgage. For instance, a city with a Cost-of-Living Index of 120 is 20% more expensive than New York City (excluding rent). Below are the countries analysed in this report with the capital city in bold.

In our analysis of global cost of living indices, it was found that among US cities, only Houston (65.4) and Dallas (71.4) have a lower cost of living index than London (79.9). Among the 49 cities compared across seven countries, London ranks 7th, whereas other UK cities such as Edinburgh (16th), Manchester (29th), and Glasgow (30th) are positioned much lower on the list.

London has the highest cost of living index in the UK at 79.9, positioning it as one of the more expensive cities globally but still below cities like New York City (100.0) and San Francisco (91.5).

UK cities: London (79.9), Edinburgh (70.6), Manchester (66.3) and Glasgow (65.8).

Irish cities: Dublin (75.4), Cork (75.5), Galway (67.5)

Chinese cities: Suzhou (57.0), Shanghai (36.9), Beijing (35.4), Shenzhen (34.6), Guangzhou (33.4) and Chengdu (30.1)

Italian cities: Milan (67.9), Bologna (63.9), Turin (57.7) and Rome (54.9)

German cities: Hamburg (68.3), Munich (68.2), Dusseldorf (65.4), Berlin (65.1), Cologne (63.4), Leipzig (60.7) and Dresden (60.4)

French cities: Paris (75.4), Bordeaux (71.2), Lyon (68.9) and Montpellier (65.3)

US Cities: New York (100), Los Angeles (81.8), Chicago (81.0), Boston MA (86.8), Miami (77.9), Dallas (71.4), Washington DC (83.4), San Francisco (91.5), and Houston (65.4)

Canadian cities: Victoria (72.8), Vancouver (70.1), Calgary (70.1), Halifax (68.0), Ottawa (67.6), Toronto (67.1), Winnipeg (64.0), Montreal (63.6) and Edmonton (63.1)

Australian cities:  Canberra (79.6), Adelaide (76.3), Sydney (73.7), Perth (69.8), Brisbane (68.1) and Melbourne (67.9)

Netherlands cities: Amsterdam (70.3), Utrecht (63.9), Eindhoven (62.7), Rotterdam (61.9), The Hague (60.6) and Groningen (60.1).

Japanese cities: Tokyo (58.0)

Italian cities: Milan (68.2), Bologna (64.2), Genoa (60.1), Padova (60.1), Turin (56.8), Rome (56.6) and Naples (53.3).

Figure 1 Colour map of cost of living comparison by country

Figure 1 depicts the cost of living comparison using a colour map, with green being the cheapest countries to live in and red the most expensive. As can be seen, China and Japan are the least expensive and Netherlands, Ireland, and the U.S the most expensive. The UK is in the middle of the group but is still significantly more expensive to live in than China and Japan.

Figure 2 Cost of living and cost of rent relative to the UK

The above table displays the cost of living and the cost of rent relative to the UK. A positive figure indicates that the cost is higher relative to the UK, meaning the UK has a competitive advantage, whilst a negative figure indicates that the cost is lower relative to the UK, indicating that the UK is at a competitive disadvantage.

Comparison between key cities in competitor countries

United States: New York City (100.0) and San Francisco (91.5) have significantly higher cost of living indices compared to UK cities. Even cities like Los Angeles (81.8) and Washington, D.C. (83.4) exceed London’s cost of living. In addition to this, the United States also has limited scholarship opportunities, making it the only country reported on here to be a more expensive alternative to any city in the UK.

Australia: Sydney (73.4) and Melbourne (67.3) show similar cost of living indices to UK cities, with Sydney being comparable to Edinburgh (70.6).

France, Germany, and the Netherlands: Paris (77.1) and Munich (73.3) have cost of living indices slightly higher than London, indicating comparable living expenses in these major European cities. Amsterdam (70.3) aligns closely with Edinburgh and the UK average (70.6). In contrast, other Dutch cities like Utrecht, Eindhoven, and Rotterdam have significantly lower cost of living indices, suggesting they are more affordable than UK cities.

Canada: Toronto (71.4) and Vancouver (69.0) have indices that align closely with Edinburgh and Manchester, respectively, indicating similar living expenses between these cities and UK cities.

China: Shanghai (55.7) and Beijing (54.3) have significantly lower cost of living indices compared to any UK city, highlighting a stark difference in living expenses.

Japan: Tokyo has a cost of living lower than that of any city listed for the UK, with a cost-of-living index of 58.

Italy: Italian cities have costs of living indices ranging from 68.2 (Milan) to 53.3 (Naples), with an average of 59.9. Italy’s most ‘expensive’ city (Milan) would be comparable to cost of living in Manchester (66.3), both Milan and Manchester are popular student cities. London is ten arbitrary points higher than Milan.

Cost by country accounting for scholarship and tuition fees

Australia (70.2) has a higher cost of living compared to the UK (62.0), with many of the cities having similar scores for cost of living. Additionally, Australia has a wide range of scholarships, grants and bursaries that help financially support international students, with a strong focus on developing countries. Given this, Australia is a strong contender to the UK for attracting international students in this regard.

The USA (70.4) also has a similar cost-of-living index to the UK (60.2), with some of its cities being the most expensive in the world (New York – 100.0, San Francisco – 91.5). Additionally, the United States has limited scholarship opportunities with the highest tuition costs, making the most expensive country in this analysis for international students.

Canada (64.8) has a similar cost of living to that of the UK (62.0). Canada has abundant scholarship opportunities with lower tuition costs than the UK, with them being reported as ‘medium’ in this analysis. Canada has three cities with a cost-of-living index above 70: Victoria (72.8), Vancouver (70.1) and Calgary (70.1). Compared to the UK which has only two, although London is higher than all three Canadian cities reported here.

Accounting for scholarship opportunities, China (31.7) has the lowest cost-of-living index for a country in this analysis and has an abundant supply of scholarship opportunities with low tuition costs. In this regard, China is a significantly cheaper destination for international students than the UK.

Japan (46.1) also has an abundance of scholarship opportunities for international students, with many government sponsored schemes to encourage the internationalisation of their higher education institutions. Further to this, Japan has low tuition costs – making it a far cheaper alternative to the UK for international students.

Italy has a cost-of-living index of 56.2, with an abundant supply of scholarships along with low tuition fees make Italy a cheaper option to the UK for international students. Additionally, some Italian HE institutions offer free or nearly free tuition. Interestingly, the Italian city with the highest cost-of-living (Milan – 68.2) is situated in the Lombardy region, which is reportedly the most populated region for international students, with 26,182 residing there in 2021/22.

France (63.8), Germany (62.2) and the Netherlands (63.1) all have a country cost-of-living index either slightly or marginally higher than that of the UK. However, all three nations have lower tuition rates, and an abundant supply of scholarship opportunities.

Study costs in devolved nations

Comparing the cost-of-living in the devolved nations is difficult due to a lack of data in this area. In this analysis, the most populated cities in England (London, Birmingham and Manchester) are compared to the most populated city in the three devolved nations (Cardiff, Belfast and Glasgow) to establish a comparison in the cost-of-living between the constituent nations of the United Kingdom. Below, all cost-of-living comparisons account for rent.

Wales compared to England

The cost-of-living in Cardiff is 40.2% lower than that of London; 0.7% higher in Cardiff than in Birmingham; 9.5% lower in Cardiff than in Manchester.

Northern Ireland compared to England

The cost-of-living in Belfast is 42.7% lower in London; 0.6% lower in Belfast than in Birmingham and 9.3% lower in Belfast than in Manchester.

Scotland compared to England

The cost-of-living in Glasgow is 21.9% lower than in London; 7.9% higher in Glasgow than in Birmingham, and 1.4% higher in Glasgow than in Manchester.

See below a visual representation of the above comparing the cost of living between the three most populated cities in England compared to the most populated city in each of the three devolved nations.

CardiffBelfastGlasgow
London-40.2-42.7-21.9
Birmingham0.7-0.67.9
Manchester-9.5-9.31.4

Table 1 Comparison of cost of living between key cities in UK nations

Appendix – International student enrolments in competitor countries

Australia

Undergraduate20182019202020212022
Total international students248,534265,604256,061246,211251,858
Total international Business & Management students114,495113,178101,93294,13794,050
% of international students in Business & Management46%43%40%38%37%
      
Postgraduate20182019202020212022
Total international students216,575242,991224,210190,658190,067
Total international Business & Management students95,229102,55892,56977,84677,092
% of international students in Business & Management44%42%41%41%41%
Top countries of origin (2022): China, India, Nepal, South Korea, Brazil, USA, Malaysia, Thailand, Vietnam, Cambodia

Canada

All levels of study20182019202020212022
Total international students354,275400,590255,575443,680548,610
Top countries of origin (2022): India, China, France, Philippines, Iran, Nigeria, South Korea, Vietnam, Mexico, Brazil
Notable growth markets: Ghana, Nepal, Nigeria, Algeria

China

All levels of study20182019202020212022
Total international students307,501333,072273,792255,720253,177
Top countries of origin: South Korea, USA, Japan, Thailand, Russia, Indonesia, Vietnam, India, Pakistan, Kazakhstan
Notes: Business & Management makes up roughly 15% of total students (including domestic)

France

All levels of study201820192020
Total international students343,000358,000370,000
Top countries of origin (2021): Morocco, Algeria, China, Italy, Senegal, Tunisia, Spain, Ivory Coast, Lebanon, Cameroon
Notes: Business & Management students make up the majority of international students in France

Germany

Undergraduate20182019202020212022
Total international students113,730121,325127,241130,478132,534
      
Postgraduate20182019202020212022
Total international students141,748152,960164,874177,646190,331
Notes: Business & Management is not one of the more popular subjects among international students in Germany. Business & Management is grouped with Economics, Law, and Social Sciences, which together make up 25% of international students.
Top countries of origin (2022): India, China, Syria, Austria, Turkey, Iran, Russia, Italy, Ukraine, Pakistan
Notable growth markets: Bangladesh, Ghana

Ireland

All levels of study2017/182018/192019/202020/212021/222022/232023/24
Total international students26,47029,08029,85526,78531,72035,14040,400
Undergraduate16,89518,18017,43515,28017,61519,41520,895
Postgraduate9,58010,90012,42011,50514,10515,72519,505

Italy

Undergraduate2018201920202021
Total international students89,56495,734102,354109,681
Top countries of origin: Romania, Albania, China, Iran and India.

Japan

Undergraduate201820192020202120222023
Total international students298,980312,214279,597242,444231,146279,274
Top countries of origin: China, Nepal, Vietnam, South Korea and Myanmar.

The Netherlands

Undergraduate201820192020202120222023
Total international students83,81792,159101,831114,255122,287128,248
Top countries of origin: Germany, Italy, China, Romania and Spain

USA

Undergraduate20182019202020212022
Total international students522,155517,556445,659443,440450,408
      
Postgraduate20182019202020212022
Total international students498,625494,099411,340438,390507,195
Business & Management % of total – all levels of study15%15%16%14%14%
Top countries of origin: China, India, South Korea, Canada, Brazil, Vietnam, Japan Taiwan, Saudi Arabia, Nigeria
Notes: Students from China have fallen, Europe accounts for larger increase than Africa year-on-year

Sources for international student enrolments data

Australia – International Education Data and Research

Canada – Immigration Refugees Citizenship – Corporate Transparency Committees

China – Ministry of Education Statistics

France – Studying in France – International Student Statistics; Campus France – Key Figures Publication – Foreign Students in Higher Education

Germany – Wissenschaft – Weltoffen

Italy –    Erudera – Ministry of University and Research

Ireland – Irish Higher Education Authority

Japan – Study in Japan (Government approved information site)

The Netherlands – Nuffic: Dutch Organisation for internationalisation in education

USA – ICE PDF, ICE Library

[1] https://www.hsbc.com.cn/en-cn/wealth/education/study-abroad-cost/

[2] Adamovic, M. (2024) _Cost of living_, _Cost of Living_. Available at: https://www.numbeo.com/ (Accessed: 25 June 2024).