If anyone had any doubts that MBA applications rise as the economy plummets, they need look no further than the latest statistics from GMAC, which runs the GMAT entry test for business school.
GMAT registration figures for January and February this year were 11.82 per cent higher than for the corresponding period in 2007. Perhaps not surprisingly, the growth in registration volume was highest outside the US, where it grew by 24.22 per cent.
Moreover, the number of GMAT test-takers also increased in that same two-month period. In the US the numbers rose by more than 7 per cent but outside the US the number of test-takers rose by nearly 22 per cent, perhaps reflecting the increasing number of non-US business schools that now require the applicants to sit the GMAT as much as the state of the global economy.