10 Best Study Abroad Destinations-2011 for Business Majors
Any student, no matter her or his major, should snap up any affordable opportunities to study abroad that present themselves. Such experiences infuse lessons with far more diverse perspectives than the ones touched upon in the classroom. Business classes especially benefit from a generous shot of multiculturalism — and one need not focus on international trade to get something out of it! When the urge to hop a plane and head overseas for some valuable lessons hits, look into programs at some of the following locations first.
1.Hong Kong, China: This Special Administrative Region is touted as one of the top financial centers in the world, and business students harboring a love of economics come here to see laissez-faire capitalism in action. It's ranked 2nd on the Ease of Doing Business Index as well. Combined with its status as one of the world's foremost centers for banking, finance and international commerce and trade, Hong Kong should be one of the top destinations for business students hoping to study abroad.
2. Singapore: Considered one of the four economic juggernauts of Asia, Singapore ranks first on the Ease of Doing Business Index. A largely trade-based economy, the city-state thrives mainly on exporting goods and retooling imports. Suffice to say, it boasts one of the world's most active ports on top of being considered the fourth most prosperous financial centers anywhere. Business students hoping to enter into the chemical, petroleum, electronics, biomedical or mechanical engineering industries have plenty to explore here as well.
3. Taipei, Taiwan: Taiwan is considered another one of the "Asian Tigers" of business and commerce, with capital Taipei as its flourishing center. Even though the global economy is experiencing a downturn, the city boasts the 2nd -highest per-capita GDP in all of Asia and still expands at a rate of roughly 5% per year. Inflation and unemployment are both kept to a staggering minimum, too. Despite the popularity of textiles and electronics, business students with different goals can still easily walk away from a stint in Taipei with some great experiences and lessons under their belts.
4. Seoul, South Korea: LG, Hyundai, Samsung and Kia (among others) make their headquarters in South Korea's capital, one of the most economically prosperous cities in all of Asia. International banks such as Citigroup, JP Morgan, Goldman Sachs and others park international headquarters here as well. In fact, a staggering 21% of the nation's overall GDP hails from here. On a global scale, South Korea enjoys the 15th highest market economy and is the 6th biggest exporter and 10th biggest importer. However, recent political tensions with North Korea should be factored in when considering Seoul as a possible study abroad destination.
5.London, England, Great Britain: Londoners enjoy the world's 5th largest economy and the ability to brag about their home as one of the planet's three most influential cities for business (along with New York and Tokyo). Its volatile, ancient, multicultural history and strategic location make it an ideal hub for international and domestic transactions. Various industries spread themselves across five distinct business districts, with similar ones bunching together for maximum efficiency. No matter their area of interest, business students wanting to study abroad will inevitably find something relevant to their studies in London. Those particularly interested in finance or marketing creative pursuits like publishing and fashion should especially consider this kinetic, frenetic city.
6.Milan, Italy: While not the capital city of Italy, Milan serves as its central financial and business hub, sitting as the 4th biggest economy in the European Union. Students and professionals alike flock here to bask in (and hopefully learn from) its myriad successes in the design, fashion, banking, commerce and trade industries. Fashion in particular thrives here, and such illustrious names as Dolce & Gabbana, Prada, Versace, Armani, Gucci and more make Milan their headquarters along. Publishing enjoys far more prominence here than anywhere else in Italy as well, in keeping with the city's international creative and cultural influence.
7.Tokyo, Japan: Along with London and New York, this massive metropolis sports the world's largest urban economy and the 2nd largest stock exchange by market capitalization. It serves as Japan's central business, economic, political and cultural hub, with every industry imaginable represented in its 23 "special wards. Fishing and hatcheries, electronics and robotics, banking, finance, insurance, manufacturing, transportation, media, publishing and fashion businesses with international scopes either headquarter themselves or set up major centers right here. Knowledge of the Japanese language is not essential to academic or financial success, as the city is set up to accommodate English-speaking visitors.
8.Mexico City, Mexico: Given the current sociopolitical climate in Mexico as a result of the drug wars, any visitors are encouraged to thoroughly research and weigh the risks before making any commitments to study in its capital. As the 8th richest city in the world, it leads Latin America in finance and industry and serves as an ideal place for Canadian and American students hoping to attend classes comparatively closer to home. Considering Mexico's involvement with NAFTA, international business majors wanting to learn more about trade and economics should definitely think about snatching up any study abroad opportunities here. Many go because of the excellent Spanish lessons as well.
9.Dublin, Ireland: Ireland's capital and economic hub may be declining since its Celtic Tiger days, dropping from the 2nd highest wages in the EU to the 10th. But that doesn't mean this cosmopolitan city has little to offer the globetrotting business student. Like all other central business districts the world over, cultural, political and economic factors converge for a well-rounded, satisfying experience. This is an especially popular study abroad destination for those interested in the IT sector. Amazon, Yahoo!, Microsoft, PayPal, eBay, Facebook, Google and Symantec all set up major offices in Dublin. Hewlett-Packard and Intel both own major plants in and near the city as well.
10.Dubai, United Arab Emirates: Though more internationally renowned for its ambitious architecture experiments, business students know Dubai as a valuable education destination. Oil and natural gas were both responsible for launching it to economic prosperity, though lately the industries have stepped aside to make room for more tourist revenue. It also plays host to a very active port, perfect for anyone hoping to study international trade and commerce. One of Dubai's most interesting features, however, is its established, industry-specific economic free zones. These areas encourage businesses to congregate in certain areas in exchange for financial incentives, such as tax breaks and minimal regulation. TECOM, for example, sees IT staples such as Microsoft and IBM innovating side-by-side.
source:bschool.com, 18 April 2011
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