Student mobility in a flux: Managing The Great MBA Migration During Geopolitical Uncertainties

When harsh pardeshi received his MBA admission letter from the Auckland University of Technology, excitement was quickly tempered by uncertainty. “The visa process took longer than expected, and securing accommodation before arrival was a major challenge,” Harsh recalls. Like many Indian students, this year, his journey abroad is no longer a simple leap towards the traditional ‘Big 4’ MBA destinations —the United States, United Kingdom, Canada, and Australia.

Instead, what lies ahead is a more complex, uncertain path shaped by volatile visa regimes, rising education costs, and shifting geopolitical landscapes. The sketch of Indian students pursuing MBAs overseas is being redrawn, demanding sharper strategies, deeper research, and renewed flexibility.

A Widening Horizon

“Mobility is not shrinking but diversifying,” says Saurabh Arora, Founder & CEO of University Living, a global student housing marketplace. “The US remains the largest host with over 1.1 million international students, but recent policy changes, such as the $100,000 H-1B petition fee, have students thinking carefully about long-term career pathways. Canada, traditionally a strong choice, has seen demand cool after introducing a national study permit cap and stricter post-graduate work permits,” he adds.

Such moves have steered many students towards Europe, where Germany hosts close to 400,000 international students. According to Study in Germany, the nation hosted around 469,485 international students as of 2023-2024.

France recently crossed 440,000, as per the ICEF monitor, and countries like Ireland and Spain offer streamlined visa processes and attractive post-study work options.

Dubai, with its international branch campuses and long-term visa pathways, is also emerging as a compelling option for MBAs seeking proximity to India and vibrant industry connections. The city now hosts 41 licenced international higher education providers, 37 of which are official international branch campuses approved by the Knowledge and Human Development Authority (KHDA)—Dubai’s education quality regulator.

In the visa calculus, policy clarity and work opportunities weigh as heavily as academic rankings. “Visa policies are now one of the most important factors,” says Arora. In the United States, where a record number of international students are still enrolling, employers now face a one-time $100,000 fee for new H-1B petitions filed after September 21, 2025.

Coming to the UK, following several years of incremental restrictions, it has now reduced the standard length of its graduate visa for international students from two years to just 18 months. In 2025, Canada imposed a national cap on study permits, limiting approvals to 437,000—a 10% reduction from the previous year’s cap.

Australia has also increased its financial barriers and eligibility standards. Now, international students must now show proof of higher savings (AUD 29,710 for a single applicant), up from AUD 24,505 in 2024.

While these countries still dominate Indian MBA enrolments, more students are diversifying towards countries offering clearer visa policies and better ROI, says Aritra Ghosal, Founder & Director of OneStep Global, a market entry firm specialising in the higher education sector. “With rising tuition costs and living expenses, students are scrutinising which destinations and institutions offer the best balance of affordability, salary prospects, and long-term career growth,” adds Ghosal.

Visa restrictions and rising costs in the Big 4 have prompted interest in Europe and Asia, where immigration pathways are often more straightforward.

Germany has emerged as a favoured destination for students. Its Chancenkarte (Opportunity Card) visa allows graduates up to one year (extendable) to seek employment, with the ability to work part-time. Germany’s affordable tuition and strong post-study work options make it a top choice for Indian students. France aims to reach a student intake of 500,000 by 2027. It is expanding English-taught MBA programmes and enhancing stay-back options, offering Indian students competitive alternatives to traditional destinations. Ireland, on the other hand, provides up to 24 months of post-study work permission through its Third Level Graduate Programme (Stamp 1G), supporting master’s graduates in gaining skilled employment and boosting career prospects. Shifting to Asia, Singapore is gaining popularity for its global business environment, tech-driven economy, and clear post-study work pathways. Other Asian destinations, including Dubai and parts of Eastern Europe like Poland and Lithuania, are also emerging as affordable, career-friendly options due to simplified visa processes and growing economic ties with India.

Make-or-Break

Talk to students, and you realise that the quiet budget killer is housing. Harsh Pardeshi calls pre-arrival accommodation the biggest stress points: competitive rentals, requests for in-person viewings from abroad, and a string of upfront costs (bond, transport, insurance) hitting in week one.

In London, the numbers are brutal. The average annual PBSA (Purpose-Built Student Accommodation) rent in 2024-25 is £13,595 (about £295/week), and 14% of PBSA rooms now cost over £20,000 a year, a near tripling since 2022-23, outpacing the maximum maintenance loan, according to a survey conducted by the Higher Education Policy Institute, UK.

Rohan Mehta, an MBA student at London Business School, is blunt about debt risk: “If you need to mortgage property to do this, don’t.” University Living’s Saurabh Arora adds that in many European cities, only a minority of students secure formal residences, pushing most into private rentals. His advice: treat housing like a second tuition. Book early, budget for multiple deposits, and sync the lease start with visa validity.

What should Indian MBA aspirants weigh most? “ROI and career outcomes increasingly trump brand prestige,” affirms Aman Singh, Co-founder of Grad Right, a platform helping students with foreign education.

“For Indian students pursuing MBAs overseas, return on investment (ROI) has become a critical decision-making criterion,” he adds.

Tamanna Bhatia, a student from Newcastle University, says, “For many aspirants, the key is to measure the total cost against potential earnings and opportunities—finding that sweet spot where investment directly translates into career mobility.”

The financial calculus varies widely across countries. In the US and Canada, the high average post-MBA salaries come with steep tuition and living costs, making ROI a tight equation. “While premium programmes offer unparalleled networking and career opportunities,” notes Ghosal, “the expenses are also the highest, which means students must carefully weigh whether the salary uplift justifies the upfront investment.”

In contrast, Germany and France present more affordable options, with moderate salary prospects but attractive stay-back policies, especially for students looking to contain costs.

Similarly, in Asia, Singapore offers a strategic middle ground, with competitive salaries and lower overall costs, making it an increasingly popular choice for ROI-focused students. Ultimately, the decision hinges on balancing cost, visa clarity, location, and the reputation of the business school, elements that can significantly determine long-term financial and career outcomes.

The Future

For international MBA aspirants, the real pay-off often comes not just from the degree, but from the opportunity to work during and after their studies.

As Balakrishna Grandhi, Dean, Global MBA & Master of Global Business at SP Jain School of Global Management, observes, “The availability and duration of post-study work permits play a key role, enabling graduates to gain international experience, build professional networks, and strengthen long-term career prospects.”

In 2025, the global landscape has defined by a patchwork of job rights and part-time work regulations, shaping how Indian students budget, network, and strategise their path to global employability.

While most destinations allow some of on- or off-campus work during term time, helping students finance living costs and build local experience, the real differentiator lies in the breadth and duration of post-graduation work permits.

The perceived value gap between international and Indian MBAs is closing, though international MBAs still provide invaluable exposure.

Pardeshi reflects, “The experience abroad enhances global networking... Indian MBAs remain strong academically, but the international ecosystem shapes long-term careers.”

However, for many, high ROI, industry linkage, and rising global recognition of India’s top programs make them more attractive than ever, especially when weighed against escalating tuition, housing, and visa hurdles abroad.

@not_sonali