Did you know that over a quarter of a million students worldwide pursue an MBA each year?
A large number of these students are from India, where the demand for an MBA continues to grow. In fact, India consistently ranks among the top countries sending students abroad for higher education. However, pursuing an MBA abroad can be financially challenging, with tuition fees ranging between $55,727 and $161,810. For many Indian students, finding affordable MBA programs with high-quality education remains a significant hurdle. Yet, with careful research and planning, it's still possible to find affordable options that provide global exposure and great career opportunities!
Key Highlights of the Blog:
- Norway and Germany offer no tuition fees at public universities, making them some of the most affordable countries for studying MBA abroad.
- Canada is one of the cheapest countries for MBA, with low tuition fees and living costs.
- The annual fees and cost of living in these countries range from INR 15 lakh to INR 40 lakh for tuition, and INR 8 lakh to INR 18 lakh for living expenses.
- Top colleges include the Rotman School of Management, IMD Business School, Mannheim Business School, Trinity College Dublin, and Stockholm School of Economics.
- As an MBA graduate from these countries, you can earn an average salary of INR 50 lakh to INR 1.2 crore.
Finding the cheapest and the best option can be tricky. We are here to help you with a list of the cheapest countries to study MBA for Indian students. So, let’s discuss the 10 cheapest and best options you have to pursue your MBA abroad at a low cost.
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Why Study an MBA abroad?
Pursuing an MBA abroad with low fees can an be challenging yet beneficial. From the best curriculum to the return on investment, an MBA abroad at a low cost can help you with a promising career without adding the stress of a brawny loan. If that’s not enough to make you think of MBA abroad…Here are a few best reasons why you should study MBA abroad:
- Networking: An MBA abroad will expose you to various opportunities to network with students from diverse backgrounds. It also allows you to connect with professionals with extensive experience in the field.
- Impressive job package: The average salary offered to an MBA graduate from a recognised B-school abroad is significantly higher than that of an MBA graduate of an Indian B-school. Thus, an MBA abroad for Indian students at a low cost is worth it.
- A Practical Approach: Pursuing an MBA abroad requires you to learn many new-age business tactics. This allows you to gain an edge on dynamic business management techniques. Thus, making the cheapest countries for MBA highly desirable.
- Holistic Development: The exposure of an MBA abroad provides you with detailed insights and a deep understanding of the business world. This is why studying the cheapest MBA abroad will help you gain exposure at an affordable price.
Now that you have multiple convincing reasons to pursue an MBA abroad, let’s look at the cheapest country to study MBA for Indian students.
Top 15 Cheapest Countries Pursue MBA Abroad
Germany is the cheapest country for your MBA abroad, offering low or no tuition fees at public universities and affordable education options.
However, Canada might be more affordable overall due to its lower cost of living, despite higher tuition fees.
To find the cheapest MBA, focus on universities with low-cost programs and choose a country with an affordable cost of living.
List of Cheapest and Most Affordable Countries to Study MBA for Indian Students
- Canada
- China
- Switzerland
- Germany
- Norway
- Ireland
- Netherlands
- Singapore
- France
- Sweden
- Poland
- Malaysia
- Italy
- South Africa
- Portugal
To discuss further about MBA abroad for Indian students at low cost, let’s address each of the cheapest countries to study MBA below:
1. Canada
Canada is considered one of the cheapest countries for Indian students to pursue MBA abroad. It is known for its diversity, great quality of living, and the fact that it is affordable to study attracts international students.
Students willing to pursue an MBA at a low cost have another reason to go here as MBA programs in Canada are some of the cheapest in the world.
Canada is a booming global educational destination. With a higher permanent residential rate, it is one of the most sought-after countries in the world. Thus, making it the cheapest country to study MBA abroad for Indian students.
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Tuition Fee |
CAD 30,435 - CAD 31,856/year |
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Top MBA Universities |
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Cost of Living |
CAD 1,000 per month |
Suggested: Cheapest MBA Colleges In Canada For International Students
2. China
China (mainland) is another captivating study destination with over 492,185 international students from over 196 countries studying there.
Home to over 40 globally ranked universities, it is one of the uncommon cheapest MBA abroad destinations for Indian students.
Over 90% of MBA graduates are employed within three months at most Chinese business schools, with some even achieving 100% post-graduate employment rates.
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Tuition Fee |
RMB 188,000 to RMB 438,000/year |
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Top MBA Universities |
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Cost of Living |
RMB 3816 per month |
3. Switzerland
Switzerland is one of the cheapest countries to study MBA. Popular for its scenic views, Switzerland is another great option to study MBA abroad for a low cost.
The affordable fees at MBA universities in Switzerland make it one of the desired countries among Indian students. It also houses some of the top-ranking Business Schools in the world.
The top 2 universities in Switzerland rank within the top 60 in the QS World MBA ranking for 2024. The country has a strong base in the finance domain. This adds as a great advantage to students for getting hired in the country with headquarters of dream companies.
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Tuition Fee |
CHF 28,500 - CHF 70,000/year |
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Top MBA Universities |
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Cost of Living |
CHF 1,850 per month |
Thinking about studying for an MBA abroad? Schedule a free 1-on-1 consultation call with our experts to get personalized advice!
4. Germany
Germany is one of the largest bases of international students. The world knows it for its affordable cost of education and living. It easily takes the spot as the cheapest country to do an MBA. When comparing the cost of an MBA program in the UK with that of Germany, an MBA degree in Germany turns out to cost 15% less than in the UK, on average.
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Tuition Fee |
€ 19,000 to € 45,000/year |
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Top MBA Universities |
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Cost of Living |
€850 per month |
5. Norway
Norway offers free tuition for both its citizens and international students, making it an attractive destination for MBA studies.
With high-quality education and tuition-free public universities, an MBA from Norway is a popular choice for those seeking affordable business education.
According to the QS World University Rankings 2024, four Norwegian universities have impressed the world.
The country is renowned for its cheap MBA programs, drawing students from around the world. It’s also attractive because of its availability of English-taught programs you can study for free.
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Tuition Fee |
No Tuition Fee |
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Top MBA Universities |
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Cost of Living |
NOK 12,352 per month |
6. Ireland
This European nation with an employability rate of 96% has gained massive popularity. Ireland has a booming economy and has welcomed popular employers like Google, Amazon, Bank of Ireland, and Deloitte in past years.
Ireland’s UCD’s Michael Smurfit Business School was featured among the top hundred B-schools for full-time MBA by the Financial Times and The Economist.
For those seeking the cheapest country to study MBA, Ireland stands out as an excellent choice.
MBA programs in Ireland are affordable and offer high-quality education, making it a top destination for international students seeking cost-effective business education.
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Tuition Fee |
€8,000 - €30,000 /year |
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Top MBA Universities |
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Cost of Living |
€590 - € 1,000 |
7. Netherlands
The Netherlands provides international students with access to affordable quality education. It is also the cheapest country for doing MBA in Europe, for foreign students.
Approximately 49% of students pursuing an MBA in Netherlands are able to get employed within the school.
Post completion of the coursework, 25% of the remaining students get hired. These statistics together indicate that the Netherlands is another best countries to pursue the cheapest MBA abroad.
According to QS, the Netherlands has been ranked 10th globally in terms of MBA candidate popularity for the past three years.
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Tuition Fee |
€12,000 - €54,000/year |
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Top MBA Universities |
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Cost of Living |
€800 – €1,100 per month |
8. Singapore
MBA in Singapore is becoming a popular choice for international students.
Business schools in Singapore have simple admission requirements and offer affordable MBA programs.
The country is home to five of Asia’s top universities, according to the Times Higher Education World University rankings.
MBA graduates from Singaporean universities earn some of the highest salaries in the country, surpassing national averages. With Singapore’s high GDP per capita, MBA graduates typically receive five- or six-figure salaries.
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Tuition Fee |
SD 28,000 - SD 72,000/year |
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Top MBA Universities |
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Cost of Living |
SD 1,400 |
9. France
France has some of the cheapest MBA colleges abroad for international students.
French B-schools have a lot to offer in their MBA curriculum in terms of both theoretical and practical knowledge.
What makes France an affordable MBA destination is the state’s two-thirds fee waiver for students enrolling in public universities, making your MBA study even more affordable.
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Tuition Fee |
€14,930 - €89,000/year |
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Top MBA Universities |
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Cost of Living |
€600 to €800 per month |
10. Sweden
MBA from Sweden has gained generous popularity due to the affordability of European-style education with them.
Swedish universities offer an affordable country to study MBA, providing a high-quality education that prepares you for a dynamic business environment and opens the door to lucrative opportunities.
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Tuition Fee |
SEK 330,000/year |
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Top MBA Universities |
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Cost of Living |
SEK 12,000 per month |
11. Poland
Poland offers affordable MBA programs with a rich cultural experience, featuring top schools like SGH Warsaw School of Economics and Cracow University of Economics.
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Tuition Fee |
€8,000 - €15,000 per year |
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Top MBA Universities |
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Cost of Living |
€500 - €800 per month |
12. Malaysia
Malaysia is an economical choice for MBA studies in Southeast Asia, with well-regarded institutions like Monash University Malaysia and Taylor's University.
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Tuition Fee |
USD 6,000 - USD 10,000 per year |
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Top MBA Universities |
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Cost of Living |
USD 400 - USD 700 per month |
13. Italy
Italy combines quality education with a historical setting, making it a popular destination for MBAs at schools like LUISS Business School and Bologna Business School.
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Tuition Fee |
€14,000 - €18,000 per year |
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Top MBA Universities |
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Cost of Living |
€700 - €1,200 per month |
14. South Africa
South Africa provides a unique MBA experience focused on emerging markets, with leading programs at Stellenbosch University Business School and the Gordon Institute of Business Science (GIBS).
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Tuition Fee |
USD 12,000 - USD 15,000 per year |
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Top MBA Universities |
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Cost of Living |
USD 500 - USD 1,000 per month |
15. Portugal
Portugal is known for affordable education and vibrant culture, with top MBA programs at Porto Business School and ISCTE Business School.
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Tuition Fee |
€15,000 - €20,000 per year |
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Top MBA Universities |
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Cost of Living |
€600 - €1,000 per month |
From the Desk of Yocket
Pursuing an MBA abroad involves a lot many challenges. However, we believe we reduced the challenge of finding the best Business schools according to the affordability for you. If you are hesitant about pursuing an MBA abroad but are holding yourself back because of the high charges, talk to a Yocket counsellor to help you ease your journey!
