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We asked master in management graduates to give their views on what the long-term impact of Brexit will be for business education in Europe? Here are some comments.
While mobility between countries may become a bit more difficult and bureaucratic in the long term, I don’t believe Brexit will affect international education in the short term. A potential impact is on the UK’s image. Will students from other countries want to study in the UK?
The single market was an attractive alternative for students, but I doubt it will remain so once it is fractured. As Europe loses its influence on the global market, the most ambitious students will begin to veer towards North America and Asia.
As a former business student in London, I believe that Europeans will keep on choosing London as a destination of choice for their business studies for two reasons: investment banking and Shoreditch [known as Tech City] — UK’s answer to Silicon Valley.
Business education will follow financial institutions, which will probably move part of their activities to Paris or Frankfurt. This will strengthen the business schools there. British schools will lose a lot from Brexit, especially the ones working with the City.
IT strategy consultant
Switzerland, which is not a member of the EU, still has the best business university for masters in management (according to the FT ranking). Brexit will have neither a negative nor positive impact on business education in Europe. Having a weak pound will also allow students to afford good quality education in the UK.
European business schools may gradually exclude exchange programmes with UK schools or companies due to, potentially, increased paperwork. However, Europe will have an empirical example of the impact of an EU exit on the economy. It will be taught at schools and that may give ideas for tomorrow’s leaders.