- Shorter courses - The shorter the course, the lesser time you remain in uncertainty. Also a shorted course means less investment. In US-B-schools, the courses are of 2 years duration and because of recession, where there is no or less guarantee of a job, it becomes difficult to sustain those two years especially with huge investment of 100K+ USD. This makes European schools more lucrative for applicants especially for Indians who are very sensitive towards cost.
- US H1 Visa concerns - With Barack Obama restricting companies from recruiting H1 visa holders, there is a lot of uncertainty, and so students who want to work in the US post-MBA on H1 are not that keen to go in for a US-MBA. Not that the UK or other European administrations are more welcoming, but such sudden changes do impact influx of students.
- Other factors - Attacks on Asian students in Australia has led to fewer applications to Australian universities, and may be (I don't have data to prove it, but I believe it might be a factor) such applicants would have preferred European destinations now. Also because of the fact that in most of EU countries, a dependent on student can work, its easier for students to take their spouses who can work while they study. This provides good support, both financial and emotional.
Other than these factors, it could also be coincidental. The surging number of students coming out of engineering schools every year makes a good market for these European schools. Also because of recession, more and more students are choosing to take up a higher education especially in Entrepreneurship etc as mentioned in the article.
[References]
http://www.businessweek.com/globalbiz/content/mar2010/gb20100319_850576.htm
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