According to GMAC’s latest global survey,  applications to global graduate management education (GME) programmes rose 7 per cent in 2025 despite ongoing geopolitical tension and economic uncertainty.

This follows last year’s record-breaking growth; however, this year’s application gains were uneven across regions and programme types. Amidst all these shifts in GME demand, business schools are adapting swiftly to stay relevant amid shifting student mobility, emerging technologies, and evolving employer expectations.

The largest and most widely cited survey of its kind in the industry, GMAC’s Application Trends Survey is the definitive resource for business school admissions and programme leaders to gain insight into the rapidly shifting demand for GME programmes.

Offering a global sample of programmes of all types and formats, the survey’s findings provide a comprehensive view of candidate application sending behaviour trends, as well as school admissions and recruitment activities.

This year’s survey was conducted between June and August, with 1,172 programmes at 326 business schools located in 41 countries providing responses about the 2025-2026 academic year.

Global application volume: Growth continues, mobility shifts

Business education continues to prove its resilience. Applications to GME programmes worldwide grew again in 2025, driven primarily by full-time, in-person formats (up 8%), possibly influenced by the widespread return-to-office mandate in the business world. MBA programmes saw modest overall gains, led by renewed interest in residential two-year programmes (up 4%).

Likewise, nearly every type of reported business master’s programme experienced application growth, especially in accounting and marketing. Master of Business Analytics, on the other hand, faced another year of application declines.

However, the picture looks very different across the regions. International applications stayed largely steady in volume, but student mobility shifted dramatically, which respondents attributed to changes in visa policies and employment outlook.

Canada, the United States, and the United Kingdom all reported fewer international applicants, while programmes in India and Europe outside of the U.K. saw strong surges. This shift marks a major reshape of where global talent is choosing to study business.

Source: GMAC 2025 Application Trends Survey Report

Today’s business school: AI, sustainability, and agility

Business schools are adapting their curricula to meet the changing needs of students and employers. More than half of programmes worldwide now teach artificial intelligence (AI) as a must-have tool for decision-making, strategy, and innovation. The integration of AI is fast becoming a defining feature of today’s management education.

At the same time, sustainability continues to grow as a point of differentiation among programmes. Schools in Asia and MBA programmes globally are leading the way, ensuring sustainability is a core part of their academic experience.

In Europe outside of the U.K., business schools are also leaders in adopting sustainability into their curriculum, with 65 per cent of GME programmes in the region offering sustainability-related electives.

As such, Europe-bound applicants interested in areas like the impact of climate change on supply chains or bringing “green tech” products to market may be more satisfied in their educational pursuits compared to U.S.-bound candidates.

Beyond degree programmes, schools are also expanding into non-degree offerings such as executive education and professional certificates. In Europe, business schools are particularly aiming to diversify their revenue streams through these options compared to other regions.

Overall, these short, targeted programmes help institutions stay relevant in rapidly evolving industries and strengthen partnerships with employers seeking upskilling opportunities for their workforce.

Today’s applicants: Women in the pipeline

The 2025 applicant pool shows both stability and progress in an expansive pipeline. Women’s applications to MBA programmes grew faster than men’s, while their representation in business master’s programmes remains just below parity.

Specifically, women made up roughly half of the applicants to the Master of Accounting and Master of Management programmes, as well as two-thirds of applicants to the Master of Marketing programmes. However, female participation in accounting and finance master’s programmes has declined over the past decade—a trend schools may need to address proactively.

In Europe, while women’s applications to U.K. business schools suffered declines, their applications to European GME programmes outside of the U.K. showed increases, with 56 per cent of all GME programmes and 66 per cent of the business master’s ones reporting growth. This trend highlights how European business schools have made significant strides in their offerings that appeal to women candidates.

The takeaway: Growth amid change

Overall, the 2025 GMAC survey paints a picture of growth impacted by transformation. Demand for business education remains robust, but the “where,” “who,” and “how” are changing rapidly.

Schools that adapt quickly—embracing AI, embedding sustainability, and broadening access—are positioning themselves for long-term relevance in a competitive and globally interconnected landscape.

As the global economic and geopolitical outlooks continue to evolve, the demand for business education remains strong—but success will belong to the institutions that evolve just as quickly.

Read the full Applications Trends Survey report on gmac.com.

Andrew Walker is the director of industry communications at GMAC.

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