With the Europe government going ahead with the Brexit, is said to have a significant impact on the economy of the UK. The education system will not be untouched by Brexit, although people think it to be a political decision. Recently the value of pound also found to be affected by the Brexit but the authorities of the UK, are quite promising and will be looking forward to discovering a new market to start their trade with the new lands to explore.
On checking the top business schools in the UK, the country has about eight B-schools ranking in top. The best of them is Cambridge University Judge Business School and London Business School ranking in top 10 from decades. The academics are in question with Brexit as it tends to bring uncertainty in working and living rights for EU nationals. Prompting anti-immigrant sentiments, the imposition of new norms can cause brain drain for both students and staff and can jeopardize the research and funding.
A third of the income for UK Business schools are estimated to be sourced from international students (EU or non-EU) and the rest 47% are from the home country. If the dip is grave, then consequences can be quite severe in financial terms. The decision of the UK to leave the EU will bring critical changes in the norms of the UK, and the implications will be visible in the coming years for the visitors and citizens.
With the millions of dollars sourcing through exports and other mediums which will change after Brexit, the economy of the UK can take a hit for a while. The institutions need to know their strength and can they bring awareness outside students to come forward and make it happen for them. Brexit will take time to adjust with the UNK citizen, but the things will be better soon as the authorities will look for other options to check on reasonable deals.
Effect of Brexit on educational institutions:
The educational institutions in any country work on quality academics and prepare people for the outside world to explore on their best. With the time going ahead with the confirmation of Brexit being implemented in the UK and Europe, the business houses in every front are wondering about the international application, would they still feel welcome in the UK. Many business houses have projected the downfall of business in their niche and are looking forward to the government to prepare them for the new horizons to explore through.
On performing various surveys on EU students, one can able to conclude that a significant chunk of students is not keen to pursue their higher education from the UK, as stated by ISS. The survey also portrays silver lining by saying that this survey also describes positive outcomes for the respondents. As students outside of the EU are not much concerned about Brexit and its implications and are unaffected and a small amount of them feel deterred by Brexit imposition.
The Brexit also states that the drop in the pound’s value is making the UK an attractive resort for the students to explore education grounds. The prospective students from India, HongKong, China, Sudan, and Ethiopia are interested in studying in UK universities as they are quite affordable for them now. The affordability feature will attract students from various corners of the globe to enroll them in UK universities.
What universities can do?
To make everybody about the receptiveness of candidates hailing from various countries the other UK, the universities can make it happen by implementing the below:
- Try committing for a welcome campaign: This pertains to courting prospective applicants through social media. More than 80 percent of the respondents that the campaigns like #LondonIsOpen and #WeAreInternational made them aware of the UK still accepting them. School-specific hashtags are also great to start for everyone.
- Affordability publicizing: With the uncertainty hovering around the UK market and when the EU is looking forward to exit, the country is publicizing their future affordable proposals to finalize at the best price. The communication for them for the fees, scholarships, and affordability.
- Don’t just stick only to lip services: The educational institutions should be allowed to be open for international students. Pulling out their welcome mat and proving Brexit to be one of the political moves and will not influence the behavior of UK authorities towards the students moving in from across the boundaries.
- Court campaigns to welcome students: Students should reach out for the welcoming campaigns and institutions should look for the students who focus on economical options nowadays. The survey found these welcoming options to be quite useful. China is contributing about 85%, India 85%, and Nigeria 83%. Going forward the international students can be one of the targets these marketing campaigns and sending a direct message to the students.
- Students expectations: Keeping your eyes on future the institute should dig deep and try to recognize what the students require today and tomorrow. The initial steps will be comprising of the facts that students always want to enquire and know what will happen tomorrow.
Implicating these tips will be great for universities, and undoubtedly, in the long term, the MBA British school will be an excellent investment for applicants. Brexit can cause few short-term complexities, but going forward the quality academic will win the race. The business schools in the UK are years old and have their history for capable people studying on their premises. The hope is there will create its shape soon for the people to come up with a feasible solution for the Business schools.