Geographic Trend Report for GMAT Examinees

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1 Geographic Trend Report for GMAT Examinees

2 Geographic Trend Report for GMAT Examinees The Asian Geographic Trend Report for GMAT Examinees identifies migratory trends among GMAT examinees applying to and attending graduate business school. Geographic and background data collected after each examinee completes the GMAT exam are used and combined with score-sending patterns. Together they illustrate which countries and schools are of interest to citizens of various Asian countries. Data from the most recent testing year are compared against data from four years prior to identify changes in examinee preferences. Geographic Trend Reports were first introduced in 2005 as part of the GMAC Research Report Series. The trend series has since grown based on requests for annual updates and specialized reports for individual regions, including Asia, Europe, and the United States. If you d like an electronic copy of this or any other Geographic Trend Report documents, visit If you have questions about this publication, please contact us at The Asian Geographic Trend Report for GMAT Examinees is a product of the Graduate Management Admission Council (GMAC), a global nonprofit education organization of leading graduate business schools and the owner of the Graduate Management Admission Test (GMAT). The GMAT exam is an important part of the admissions process for more than 4,000 graduate management programs around the world. GMAC is dedicated to creating access to and disseminating information about graduate management education; these schools and others rely on the Council as the premier provider of reliable data about the graduate management education industry Graduate Management Admission Council (GMAC ). All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, distributed or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior written permission of GMAC. For permission contact the GMAC legal department at Creating Access to Graduate Business Education, Global MBA, GMAC, GMAT, Graduate Management Admission Council, and Graduate Management Admission Test are registered trademarks of the Graduate Management Admission Council in the United States and other countries.

3 CONTENTS KEY FINDINGS...2 METHODOLOGY...3 RESULTS...4 Location of GMAT Examinees in Asia...4 Country Gains and Losses...6 Findings by Indian Citizenship...9 Findings by Chinese Citizenship...11 Findings by South Korean Citizenship...13 Findings by Taiwanese Citizenship...14 Findings by Japanese Citizenship...16 Findings by Thai Citizenship...18 Findings by Pakistani Citizenship...19 Findings by Singapore Citizenship...21 Findings by Indonesian Citizenship...23 Findings by Malaysian Citizenship...25 Findings by Vietnamese Citizenship...27 DISCUSSION...28 AUTHOR...29 CONTACT INFORMATION...29 REFERENCES...29 APPENDIX A: TOP 20 COUNTRIES FOR EXAMINEES OF ASIAN CITIZENSHIP (TY 2001 TY 2007)...30 APPENDIX B: REGIONAL CATEGORIES...30 ASIA...30 CENTRAL ASIA...30 Asian Geographic Trend Report Graduate Management Admission Council. All rights reserved. 1

4 INTRODUCTION T his Asian Geographic Trend Report presents geographic and background data on the population of examinees taking the Graduate Management Admission Test (GMAT ) exam in Asia during the 2003 and 2007 testing years (TY). The data were analyzed to identify geographic trends among Asian GMAT examinees applying to and attending graduate business school. Student demand for graduate management education by country is examined two ways by registrations within a country and by score reports sent to a country. Trends for GMAT score reports sent are used throughout this report to indicate examinee interest in studying in a particular region. Care should be taken when generalizing these results. Other factors, such as changes in application requirements by schools and governments, can affect trends reported. Additionally, testing year 2003 followed a record-breaking year in terms of the number of GMAT exams taken, which affects comparisons across the two testing years studied. Key Findings Examinee score-sending behavior in Asia has changed drastically in recent years, but patterns are beginning to emerge in certain countries/regions. Countries such as India and Singapore show definitive trends with an increasing number of score reports sent to local schools, whereas other countries/regions, such as China and South Korea, have stable trends with a high percentage of score reports sent to U.S. schools. India, China, South Korea, Taiwan, and Japan produced the greatest number of tests taken in Asia in TY Although TY 2003 followed a record year for GMAT testing, half of the top 20 Asian countries/regions experienced an increase in GMAT exams taken in TY 2007 compared with TY 2003, and 14 countries/regions saw an increase compared with TY India, China, Singapore, and Hong Kong have seen the greatest gains, while Japan, South Korea, and Taiwan have seen the greatest declines. The top five Asian countries/regions to which all GMAT examinees sent score reports are India, Singapore, Hong Kong, China, and the Philippines. Of these, India, the Philippines, and Singapore have seen the greatest gains since TY The top five countries/regions to which Asian citizens sent GMAT score reports are the United States, India, the United Kingdom, Canada, and Singapore. Five years ago, the top countries/regions included the United States, Canada, the United Kingdom, France, and Hong Kong. Schools in Singapore are becoming increasingly appealing to citizens of Singapore, attracting more than 40% of their domestic pool in TY Part-time programs and Financial Engineering programs have gained in popularity with citizens of Singapore, as well. The percentage of score reports sent to schools in India by Indian citizens nearly tripled from TY 2003 to TY Indian citizens also sent the highest average number of score reports per examinee (4.5). India and Europe continue to gain in market share from Indian citizens as the applicant pool from India grows. Meanwhile, the United States has lost market share from this group Graduate Management Admission Council. All rights reserved. Asian Geographic Trend Report

5 METHODOLOGY Methodology The 10 countries/regions in Asia with the greatest number of examinees sitting for the GMAT exam were analyzed. Information was obtained from examinee responses to the background information questionnaire (BIQ) administered as part of the GMAT exam, score reporting information from examinee records, and other registration information for testing years 2001 through 2007, each beginning July 1 and ending June 30. Although data from TY 2001 to TY 2007 are provided for general trend purposes, TY 2003 and TY 2007 data provide the primary basis for this report. Data from the 52,030 records of Asian examinees in TY 2003 and the 56,306 records of Asian examinees in TY 2007 sitting for the GMAT exam one or more times during these years are closely examined. In TY 2003, 14,988 of these examinees were citizens of Central Asia, a number which grew to 22,565 in TY However, only two countries in Central Asia made the top 10 India and Pakistan. When taking the GMAT exam, examinees have the option to submit their score (through a score report) to up to five schools/programs at no charge. Once examinees leave the test center, additional copies of their score report are available for a fee. Up to 10 instances of score report data are stored for every test taken. Score reports were aggregated and grouped by school location for both TY 2003 and TY The address given at the time of test registration was used to group examinees into two regional categories: Asia and Central Asia. (See Appendix B for complete descriptions.) Country of citizenship and score reporting behavior are used to gauge regional trends and changes in examinee preferences regarding school locations. The top 10 schools (by score report volume) for each of the top citizenship groups are listed for the two years studied to further reveal changes. Geographic data gathered for TY 2003 and TY 2007 include mailing address at time of registration and country of citizenship. The countries/regions in Asia with the greatest number of citizens sitting for the GMAT exam were analyzed. The data used takes into account tests taken, not individual test takers. Any examinees who took the test more than once are represented in the analyses by the number of times they took the test, and the average percentage of tests taken by repeat examinees is approximately 15 22%. Furthermore, the results presented in this report are generalizations that will not apply to every student. Location preferences vary from individual to individual, and circumstances unobservable to researchers also help determine location decisions (Kodrzycki, 2001). Because the people of Hong Kong are now included in the China citizenship category, Hong Kong is no longer available as a separate citizenship category for the most recent data, and the Hong Kong citizenship category was collapsed into the China citizenship category for TY 2003, as well. Due to a change in program classifications, such as specifics on full-time versus part-time, more detailed program breakdowns are available for TY 2007 than for TY Throughout this report, school names followed by MBA indicate full-time programs unless otherwise specified. GMAT score-sending trends are used to indicate interest in studying in a particular region. However, care should be taken when generalizing results, as other factors, such as changes in application requirements by schools, influence the trends. It is also important to note when reviewing these results that it is not mandatory for examinees to respond to the background information questions (BIQ) in order to register for the GMAT exam. As a result, not all test takers are represented in this analysis. However, the percentage of missing or unreported BIQ information is extremely low. Asian Geographic Trend Report Graduate Management Admission Council. All rights reserved. 3

6 LOCATION OF GMAT EXAMINEES IN ASIA Results Location of GMAT Examinees in Asia Table 1 lists the 20 countries/regions in Asia with the most residents sitting for the GMAT exam during testing years 2001 through However, numerous test takers sit for the GMAT exam outside of their home country/region. Information about the 20 countries/regions in Asia with the highest number of citizens sitting for the GMAT exam during testing years 2001 through 2007 is available in the Appendix. Table 1: GMAT Tests Taken in Asia by Location Top 20* Countries (TY 2001 to TY 2007) Rank TY 2001 TY 2002 TY 2003 TY 2004 TY 2005 TY 2006 TY India 6,088 7,552 7,824 6,137 7,206 9,270 13, China 5,484 8,642 7,073 4,610 4,040 5,299 7, South Korea 6,467 6,664 5,861 5,278 5,513 5,758 5, Taiwan 3,235 3,290 3,551 3,362 4,074 4,303 4, Japan 6,932 6,631 4,822 4,070 3,594 3,506 3, Hong Kong 3,075 3,333 2,389 1,760 1,683 1,634 1, Singapore 1,777 1,894 1,476 1,228 1,190 1,434 1, Thailand 1,516 1,360 1,407 1,258 1,397 1,491 1, Pakistan Indonesia Philippines Vietnam Malaysia Nepal Kazakhstan Bangladesh Sri Lanka Uzbekistan Macau (S.A.R. of China) Mongolia Total 37,309 41,873 36,996 29,798 30,588 34,658 41,065 Over the five-year study period, there was considerable change among the countries/regions listed some rose dramatically on the top 20 list while others dropped sharply. In TY 2007, the number of tests taken in the top 20 countries in Asia neared the peak recorded in TY GMAT testing in these areas decreased significantly in TY 2003 and TY 2004, but testing has gradually increased each year since. Fourteen countries on the list experienced an increase compared with TY Throughout the period, India remained the top country for GMAT testing in Asia with a 70% increase in tests taken by residents of India during the period studied Graduate Management Admission Council. All rights reserved. Asian Geographic Trend Report

7 LOCATION OF GMAT EXAMINEES IN ASIA China moved from third to second place, with an 8% increase in tests taken there from TY 2003 to TY Singapore also made notable gains, rising from eighth to seventh place in the rankings with a 25% increase in tests taken from TY 2003 to TY Bangladesh, Indonesia, Japan, and Malaysia experienced the greatest declines in tests taken by residents during the period studied, at -47%, -39%, -37%, and -29%, respectively. Table 1 shows that among GMAT examinees with an Asian address, the greatest concentrations of exams at the country/region level were taken in India, China, South Korea, and Taiwan. Although a significantly higher percentage of tests were taken in East Asia and South Asia compared with Central Asia during the period studied, this trend is beginning to change. In TY 2003, 23.8% of the 37,112 tests taken in Asia were taken in Central Asia. This percentage increased to 34.8% of the 41,125 tests taken in TY Figures 1 and 2 display the number of GMAT tests taken by location in Asia over the two testing years studied. This includes all examinees residing in Asia at the time of their test. Figure 1: GMAT Tests Taken by Location in Asia Testing Year 2003 Asian Geographic Trend Report Graduate Management Admission Council. All rights reserved. 5

8 LOCATION OF GMAT EXAMINEES IN ASIA Figure 2: GMAT Tests Taken by Location in Asia Testing Year 2007 Country Gains and Losses Table 2 displays score report volume for the top 10 countries/regions in Asia to which all GMAT examinees sent score reports from TY 2001 to TY This table gives a perspective of the demand for schools located in Asia and how that demand has changed over the years. Though many of the top 10 countries have remained the same, the rankings for some countries have shifted during the time period studied. India, Singapore, the Philippines, and China made the greatest gains. However, it is worth noting that the significant increase in the number of score reports received by Indian schools is primarily a result of scores being sent by citizens of India 98% of the score reports received in India in TY 2007 were sent by citizens of India Graduate Management Admission Council. All rights reserved. Asian Geographic Trend Report

9 COUNTRY GAINS AND LOSSES Table 2: Top 10* Countries in Asia to which GMAT Examinees Sent Score Reports (TY 2001 to TY 2007) Rank** TY 2001 TY 2002 TY 2003 TY 2004 TY 2005 TY 2006 TY India 1,395 1,941 2,683 3,117 5,064 6,896 11, Singapore 2,332 2,966 2,754 2,696 3,074 4,505 6, Hong Kong 4,240 5,320 4,235 3,170 3,409 3,182 3, China 413 1,757 1,771 1,533 1,365 1,892 2, Philippines , Japan Thailand Pakistan Korea Taiwan N/A N/A N/A Total Score Reports Sent to All Countries 607, , , , , , ,506 Average # of schools to which examinees sent scores * Based on number of score reports received; **Countries ranked based on TY 2007 volume; N/A indicates the percentages are too small to identify clear preferences. In order to identify potential regional preferences, the 10 countries/regions in Asia with the highest number of GMAT examinees in TY 2003 and TY 2007 were also analyzed by citizenship. Table 3 shows a comparison of the 10 countries/regions with the most score report submissions from Asian citizens in each year. The table shows the percentage of score reports received per country, the total number of score reports sent, and the average number of GMAT score reports sent per examinee. Increases in the total number of scores sent are primarily due to more exams taken by citizens of India from TY 2003 to TY Table 3: Top 10* Countries to which Asian Citizens Sent Score Reports 1. United States 77.45% 1. United States 73.43% 2. Canada 6.97% 2. India 5.62% 3. United Kingdom 4.67% 3. United Kingdom 5.38% 4. France 1.88% 4. Canada 3.35% 5. Hong Kong 1.82% 5. Singapore 3.19% 6. India 1.39% 6. France 2.84% 7. Singapore 1.38% 7. Hong Kong 1.71% 8. China 0.88% 8. China 0.88% 9. Australia 0.84% 9. Australia 0.87% 10. The Netherlands 0.52% 10. Switzerland 0.47% Total N 183,661 Total N 201,289 *Based on number of score reports received; Average score reports sent per examinee: 3.5 in TY 2003; 3.6 in TY Asian Geographic Trend Report Graduate Management Admission Council. All rights reserved. 7

10 COUNTRY GAINS AND LOSSES Overall, test report submissions for citizens of Asia suggest that, while the United States continues to rank first in terms of score-reporting volume, there has been increased interest in studying closer to home and in Europe during the period studied. The United States, the United Kingdom, China, and Australia all retained their placement in the rankings from TY 2003 to TY India and Singapore moved up in TY 2007, and Switzerland debuted in tenth place. Meanwhile, three countries/regions, including Canada and Hong Kong, moved down in the rankings. Table 4 contains information similar to that contained in Table 2 but presented here in terms of the amount of Asian market share gained or lost by the top 10 countries/regions from TY 2003 to TY Table 4: Top 10* Countries to which Asian Citizens Sent Score Reports Gain/Loss from TY 2003 to TY 2007 Rank by Scores Sent Scores Sent in 2003 Scores Sent in 2007 Gain/Loss in Market Share 1. United States 142, , % 2. India 2,557 11, % 3. United Kingdom 8,581 10, % 4. Canada 12,810 6, % 5. Singapore 2,530 6, % 6. France 3,449 5, % 7. Hong Kong 3,337 3, % 8. China 1,613 1, % 9. Australia 1,539 1, % 10. Switzerland N/A Total Score Reports Sent 183, ,289 *Based on number of score reports received. Table 5 displays the top 10 schools by score report volume for all examinees during the period studied. The number of score reports received by the top 10 schools range from more than 6,000 for the highest ranked to approximately 2,300. In TY 2007, Indian School of Business received the most score reports from Asian citizens. Eight of the top 10 schools in TY 2003 remained in the top 10 for TY 2007, although most shifted among the rankings. Of the two newcomers, the Indian School of Business debuted in first place in TY 2007, and INSEAD debuted in eighth place. These two schools were the only non-u.s. schools to make the list. The majority of the 10 most popular schools among citizens of Asia are top-tier U.S. schools located in the northeastern or midwestern United States. Stanford University is the only U.S. school in the top 10 for TY 2007 that is located in the western United States Graduate Management Admission Council. All rights reserved. Asian Geographic Trend Report

11 COUNTRY GAINS AND LOSSES Table 5: Top 10* Schools/Programs to which Asian Citizens Sent Score Reports 1. Harvard University MBA 1. Indian School of Business Post-Grad Program in Management 2. University of Pennsylvania MBA 2. University of Pennsylvania MBA 3. Stanford University MBA 3. Harvard University MBA 4. Columbia University MBA 4. Stanford University MBA 5. Northwestern University MBA 5. Columbia University MBA 6. UC Berkeley MBA 6. New York University MBA 7. New York University MBA 7. Northwestern University MBA 8. University of Chicago MBA 8. INSEAD MBA 9. University of Texas at Austin MBA 9. University of Chicago MBA 10. MIT Sloan School of Management MBA 10. MIT Sloan School of Management MBA *Based on number of score reports received. Subsequent tables in this report provide analysis of score-reporting behavior for the 10 groups in Asia that sat for the most GMAT exams in TY 2007 citizens of India, China, South Korea, Taiwan (SAR of China), Japan, Thailand, Pakistan, Singapore, Indonesia, Malaysia, and Vietnam plus the top countries/regions for these groups and the top schools to which respective citizens of these countries/regions sent score reports in TY 2003 and TY Trends by GMAT exams taken within each country/region and by citizenship are presented, as well. Findings by Indian Citizenship Indian schools attracted almost 12% of their domestic pool in TY 2007, gathering an increase of more than 7% of the overall pool compared with TY The percentage of GMAT score reports sent by Indian citizens to U.S. schools decreased by 13.37% during that time, while the percentage of score reports sent to Indian schools nearly tripled. The percentage of score reports sent to European schools also increased from 7.51% in TY 2003 to 10.96% in TY It is important for schools to note that while the applicant pool from India has increased, as illustrated by both the average number of score reports sent and the data presented in Figure 3, the United States has lost market share. India and Europe, meanwhile, have gained market share. Asian Geographic Trend Report Graduate Management Admission Council. All rights reserved. 9

12 FINDINGS BY INDIAN CITIZENSHIP Table 6: Top 10* Countries to which Indian Citizens Sent Score Reports 1. United States 80.63% 1. United States 67.26% 2. United Kingdom 4.62% 2. India 11.73% 3. Canada 4.05% 3. United Kingdom 6.50% 4. India 4.01% 4. Singapore 3.96% 5. France 2.09% 5. France 3.21% 6. Singapore 1.40% 6. Canada 2.85% 7. Australia 0.94% 7. Australia 1.28% 8. Switzerland 0.43% 8. Philippines 0.74% 9. Philippines 0.39% 9. Switzerland 0.73% 10. The Netherlands 0.37% 10. Spain 0.52% Total N 63,403 Total N 96,217 *Based on number of score reports received; Average score reports sent per examinee: 4.6 in TY 2003; 4.5 in TY Figure 3: GMAT Tests Taken by Location and Citizenship India (TY 2001 to TY 2007) 25,000 GMAT Exams by Citizenship and Location Testing Years ,000 15,000 10,000 5,000 0 TY 2001 TY 2002 TY 2003 TY 2004 TY 2005 TY 2006 TY 2007 INDIA LOCATION INDIA CITIZENSHIP As shown in Table 7, Indian School of Business received the most score reports from Indian citizens during the period studied. Indian School of Business was the only school located in India to make the rankings in both testing years. National University of Singapore and INSEAD debuted in the rankings in TY 2007 in fourth and fifth place, respectively. The majority of schools in the rankings for both testing years are U.S. schools, but fewer U.S. schools appear in the rankings in TY 2007 than in TY The number of score reports received by the top 10 schools ranged from more than 6,000 for the highest ranked to Graduate Management Admission Council. All rights reserved. Asian Geographic Trend Report

13 FINDINGS BY CHINESE CITIZENSHIP Table 7: Top 10* Schools/Programs to which Indian Citizens Sent Score Reports 1. Indian School of Business 1. Indian School of Business Post-Grad Program in Management 2. Harvard University MBA 2. University of Pennsylvania MBA 3. University of Pennsylvania MBA 3. Harvard University MBA 4. Northwestern University 4. National University of Singapore MBA 5. Stanford University MBA 5. INSEAD MBA 6. London Business School 6. Stanford University MBA 7. University of Chicago MBA 7. Northwestern University MBA 8. Columbia University MBA 8. London Business School MBA 9. New York University MBA 9. Columbia University MBA 10. MIT Sloan School of Management MBA 10. University of Chicago MBA *Based on number of score reports received. Findings by Chinese Citizenship Whereas TY 2003 marked the first dip after TY 2002 a record year for GMAT testing and score reports sent, especially among Chinese citizens TY 2007 may mark the beginning of a pronounced upswing. Meanwhile, the percentage distribution among the top 10 countries for Chinese citizens remained relatively unchanged with a few notable exceptions the percentage of score reports received by Canadian schools decreased by over 9% in TY 2007 from the percentage they received in TY 2003 and U.S. schools gained nearly the entire market share that Canada lost. Schools in China and Hong Kong attracted nearly 9% of their domestic pool in TY 2007, with a slight increase over TY 2003 driven by schools in Hong Kong. Table 8 shows that interest in studying in the United States, Hong Kong, Singapore, France, and Germany grew among Chinese citizens during the period studied. In addition to the drop noted for Canada, there were decreases in the number of scores sent to schools in China and the United Kingdom. Table 8: Top 10* Countries to which Chinese Citizens Sent Score Reports 1. United States 64.58% 1. United States 74.81% 2. Canada 15.11% 2. Hong Kong 6.15% 3. Hong Kong 5.88% 3. Canada 5.93% 4. United Kingdom 5.88% 4. United Kingdom 4.15% 5. China 2.93% 5. France 2.97% 6. France 1.91% 6. China 2.81% 7. Singapore 0.95% 7. Singapore 1.39% 8. Australia 0.72% 8. Australia 0.29% 9. The Netherlands 0.48% 9. The Netherlands 0.24% 10. Belgium 0.40% 10. Germany 0.18% Total N 53,411 Total N 48,664 *Based on number of score reports received; Average score reports sent per examinee: 3.9 in TY 2003; 3.7 in TY Asian Geographic Trend Report Graduate Management Admission Council. All rights reserved. 11

14 FINDINGS BY CHINESE CITIZENSHIP Figure 4: GMAT Tests Taken by Location and Citizenship China (TY 2001 to TY 2007) GMAT Exams by Citizenship and Location Testing Years ,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0 TY 2001 TY 2002 TY 2003 TY 2004 TY 2005 TY 2006 TY 2007 CHINA LOCATION CHINA CITIZENSHIP The University of Pennsylvania moved up in the rankings in TY 2007, replacing Harvard Business School as the top school/program to receive score reports from Chinese citizens. Although two schools located in China and Hong Kong were ranked in TY 2003, none were ranked in TY Meanwhile, Columbia University moved up in the rankings from sixth to third place in TY 2007, and several other U.S. schools, such as New York University and Yale University, debuted in TY Canadian schools dropped from three appearances in the top 10 in TY 2003 to none in TY The number of score reports received from Chinese citizens by the top 10 schools ranged from 1,300 for the highest ranked to 480. Table 9: Top 10* Schools/Programs to which Chinese Citizens Sent Score Reports 1. Harvard University MBA 1. University of Pennsylvania MBA 2. University of Toronto MBA 2. Harvard University MBA 3. University of Pennsylvania MBA 3. Columbia University MBA 4. Stanford University MBA 4. Stanford University MBA 5. China Europe International Business School (CEIBS) 5. New York University MBA 6. Columbia University MBA 6. Yale University MBA 7. York University 7. MIT Sloan School of Management MBA 8. Hong Kong University of Science and Technology 8. University of Chicago MBA 9. University of Western Ontario MBA 9. UC Los Angeles (UCLA) MBA 10. University of Chicago MBA 10. UC Berkeley MBA *Based on number of score reports received Graduate Management Admission Council. All rights reserved. Asian Geographic Trend Report

15 FINDINGS BY SOUTH KOREAN CITIZENSHIP Findings by South Korean Citizenship Score-reporting volume indicates that the United States remains the top choice among citizens of South Korea taking the GMAT exam. However, the percentage of score reports sent to European schools did increase from 4.75% to 5.84% during the time period studied. There also appears to be increased interest in studying closer to home, with China and Singapore debuting in fourth and ninth place, respectively, in TY South Korean citizens and Japanese citizens sent fewer score reports on average, compared with other Asian citizenship groups in both years. Table 10: Top 10* Countries to which South Korean Citizens Sent Score Reports 1. United States 90.57% 1. United States 90.33% 2. Canada 3.02% 2. United Kingdom 3.15% 3. United Kingdom 2.47% 3. France 2.07% 4. France 1.27% 4. China 1.18% 5. Korea 0.91% 5. Canada 1.00% 6. Switzerland 0.40% 6. Korea 0.47% 7. The Netherlands 0.32% 7. Switzerland 0.33% 8. Hong Kong 0.16% 8. Spain 0.29% 8. Spain 0.16% 9. Singapore 0.27% 9. Australia/Germany 0.13% 10. Hong Kong 0.24% Total N 15,108 Total N 13,194 *Based on number of score reports received; Average score reports sent per examinee: 2.1 in TY 2003; 1.9 in TY Figure 5: GMAT Tests Taken by Location and Citizenship South Korea (TY 2001 to TY 2007) 8,000 GMAT Exams by Citizenship and Location Testing Years ,000 6,000 5,000 4,000 3,000 2,000 1,000 0 TY 2001 TY 2002 TY 2003 TY 2004 TY 2005 TY 2006 TY 2007 SOUTH KOREA LOCATION SOUTH KOREA CITIZENSHIP Asian Geographic Trend Report Graduate Management Admission Council. All rights reserved. 13

16 FINDINGS BY SOUTH KOREAN CITIZENSHIP The top school for South Korean citizens in both testing years studied was the University of Pennsylvania (Wharton). All of the top 10 schools/programs for citizens of South Korea in both testing years are U.S. schools, and nine of the schools appear on the list for both years, although the order did change. The University of Chicago replaced the University of Texas at Austin as tenth in the list for TY The majority of schools preferred by Korean citizens are located in the northeastern or western United States. Stanford University and the University of California Berkeley are the only schools located in the western United States to make the top 10. The number of score reports received from Korean citizens by the top 10 schools ranged from 570 for the highest ranked to 290. Table 11: Top 10* Schools/Programs to which South Korean Citizens Sent Score Reports 1. University of Pennsylvania MBA 1. University of Pennsylvania MBA 2. Harvard University MBA 2. Columbia University MBA 3. Columbia University MBA 3. MIT Sloan School of Management MBA 4. UC Berkeley MBA Full-Time 4. Stanford University MBA 5. New York University MBA 5. Harvard University MBA 5. Stanford University MBA 6. New York University MBA 6. Northwestern University 7. Northwestern University MBA 7. MIT Sloan School of Management 8. UC Berkeley MBA 8. University of Michigan Ann Arbor MBA/MAcc 9. University of Michigan MBA 9. University of Texas at Austin 10. University of Chicago MBA *Based on number of score reports received. Findings by Taiwanese Citizenship Taiwan retained its ranking as the number 10 country/region to which citizens of Taiwan sent GMAT score reports in TY 2007, receiving 0.18% of their score reports. China and Hong Kong debuted in seventh place and ninth place in TY 2007, respectively. Overall, the percentage of score reports sent to Asian schools increased during the period studied. Although the percentage of score reports sent to schools located in Europe increased slightly, only four European countries made the list in TY 2007, compared with seven in TY Graduate Management Admission Council. All rights reserved. Asian Geographic Trend Report

17 FINDINGS BY TAIWANESE CITIZENSHIP Table 12: Top 10* Countries to which Taiwanese Citizens Sent Score Reports 1. United States 94.49% 1. United States 92.84% 2. United Kingdom 1.84% 2. United Kingdom 2.42% 3. Canada 1.42% 3. France 0.91% 4. France 0.68% 4. Canada 0.90% 5. The Netherlands 0.57% 5. The Netherlands 0.81% 6. Armenia 0.15% 6. Spain 0.42% 7. Germany 0.14% 7. China 0.34% 8. Australia 0.11% 8. Japan 0.29% 9. Japan 0.10% 9. Hong Kong 0.27% 10. Belgium/Switzerland/Taiwan 0.08% 10. Taiwan 0.18% Total N 18,917 Total N 16,841 *Based on number of score reports received; Average score reports sent per examinee: 4.0 in TY 2003; 3.2 in TY Figure 6: GMAT Tests Taken by Location and Citizenship Taiwan (TY 2001 to TY 2007) 6,000 GMAT Exams by Citizenship and Location Testing Years ,000 4,000 3,000 2,000 1,000 0 TY 2001 TY 2002 TY 2003 TY 2004 TY 2005 TY 2006 TY 2007 TAIWAN LOCATION TAIWAN CITIZENSHIP The top business school among Taiwanese citizens in TY 2007 was New York University, a U.S. school that ranked eighth for the group in TY Only one other U.S. school/program, University of California, Los Angeles (UCLA), moved up in the rankings from TY 2003 to TY Although all of the top 10 schools for citizens of Taiwan in both testing years are U.S. schools, the majority of the schools/programs on the list in TY 2007 are new to the rankings. In general, Taiwanese citizens appear to be more diverse in their choice of school locations within the United States compared with other Asian groups studied. Many sent their GMAT score reports to schools located in the western region of the United States, followed by schools in the Northeast. The number of score reports received from Taiwanese citizens by the top 10 schools ranged from 380 for the highest ranked to 170. Asian Geographic Trend Report Graduate Management Admission Council. All rights reserved. 15

18 FINDINGS BY JAPANESE CITIZENSHIP Table 13: Top 10* Schools/Programs to which Taiwanese Citizens Sent Score Reports 1. San Francisco State University 1. New York University MBA 2. UC Berkeley MBA MBA 2. UC Los Angeles (UCLA) MBA 3. UC Los Angeles (UCLA) 3. UC Berkeley MBA 4. University of Illinois Urbana 4. Columbia University MBA 5. City University New York Baruch MBA & MS 5. University of Southern California MBA 6. San Diego State University MBA 6. Boston University MBA 7. SUNY University at Buffalo MBA 6. University of Illinois Urbana MBA 8. New York University MBA 7. Stanford University MBA 9. The University of Texas at Dallas 8. University of Pennsylvania MBA 10. The University of Texas at Austin 9. UC Irvine MBA *Based on number of score reports received. Findings by Japanese Citizenship The number of GMAT exams taken by Japanese citizens decreased by 37% from TY 2003 to TY However, Japanese schools gained market share during that time, attracting nearly 3% of their domestic pool in TY The top five countries the United States, the United Kingdom, France, Canada, and Japan remained the same for this group from TY 2003 to TY However, the percentage of score reports sent to U.S. schools declined by approximately five points for Japanese citizens during the period studied, while the percentage of reports sent to European schools increased by 6.38 points. Two Asian countries, Singapore and Hong Kong, debuted on the list in TY The number of score reports received from Japanese citizens by the top 10 schools ranged from 340 for the highest ranked to 140. Table 14: Top 10* Countries to which Japanese Citizens Sent Score Reports 1. United States 82.96% 1. United States 77.63% 2. United Kingdom 5.60% 2. United Kingdom 7.39% 3. France 3.52% 3. France 7.42% 4. Japan 2.01% 4. Japan 2.68% 5. Canada 1.95% 5. Canada 1.58% 6. The Netherlands 0.89% 6. Spain 1.33% 7. Switzerland 0.70% 7. The Netherlands 0.90% 8. Spain 0.40% 8. Switzerland 0.82% 9. Ireland 0.37% 9. Singapore 0.72% 10. Australia 0.36% 10. Hong Kong 0.53% Total N 11,722 Total N 7,230 *Based on number of score reports received; Average score reports sent per examinee: 2.1 in TY 2003; 2.1 in TY Graduate Management Admission Council. All rights reserved. Asian Geographic Trend Report

19 FINDINGS BY JAPANESE CITIZENSHIP Figure 7: GMAT Tests Taken by Location and Citizenship Japan (TY 2001 to TY 2007) 8,000 GMAT Exams by Citizenship and Location Testing Years ,000 6,000 5,000 4,000 3,000 2,000 1,000 0 TY 2001 TY 2002 TY 2003 TY 2004 TY 2005 TY 2006 TY 2007 JAPAN LOCATION JAPAN CITIZENSHIP U.S. schools account for nine of the top 10 schools by score reports received for Japanese citizens, but fewer score reports were sent to U.S. schools in TY 2007 compared with TY UC Berkeley retained its first-place ranking during the period studied. London Business School, which is located in the United Kingdom and is the only non-u.s. school to place in the top 10, was ranked tenth in both testing years. In TY 2007, the schools preferred by Japanese citizens are almost evenly split in the northeastern, western, or midwestern United States. Table 15: Top 10* Schools/Programs to which Japanese Citizens Sent Score Reports 1. UC Berkeley MBA 1. UC Berkeley MBA 2. Northwestern University 2. Stanford University MBA 3. Columbia University MBA 3. Columbia University MBA 4. Stanford University MBA 4. UC Los Angeles (UCLA) MBA 5. University of Pennsylvania MBA 5. University of Pennsylvania MBA 6. Harvard University MBA 6. Harvard University MBA 7. UC Los Angeles (UCLA) 7. University of Michigan MBA 8. University of Michigan Ann Arbor MBA/MAcc 8. Northwestern University MBA 9. MIT Sloan School of Management MBA 9. MIT Sloan School of Management MBA 10. London Business School 10. London Business School MBA *Based on number of score reports received. Asian Geographic Trend Report Graduate Management Admission Council. All rights reserved. 17

20 FINDINGS BY THAI CITIZENSHIP Findings by Thai Citizenship GMAT-using schools in Thailand attracted more than 4% of their domestic pool in TY 2007, and there appears to be increased interest from citizens of Thailand in studying in other parts of Asia, with China and Singapore debuting in ninth and tenth place, respectively, in TY Also, there was a minor decrease in the percentage of GMAT score reports sent to U.S. schools. Although the top five school locations by score report volume have not changed from TY 2003 to TY 2007 among Thai citizens, the rankings of some countries have. The percentage of score reports sent to schools in Europe have increased slightly during the time period studied, whereas the opposite has occurred in Canada. Table 16: Top 10* Countries to which Thai Citizens Sent Score Reports 1. United States 87.69% 1. United States 87.32% 2. Thailand 3.93% 2. Thailand 4.29% 3. Canada 2.68% 3. United Kingdom 3.26% 4. United Kingdom 2.65% 4. Canada 0.86% 5. France 0.63% 5. France 0.70% 6. Germany 0.54% 6. Australia 0.68% 7. Australia 0.52% 7. The Netherlands 0.50% 8. Japan 0.31% 8. Japan 0.47% 9. The Netherlands 0.28% 9. China 0.42% 10. N/A N/A 10. Singapore 0.39% Total N 6,875 Total N 6,617 *Based on number of score reports received; Average score reports sent per examinee: 3.1 in TY 2003; 3.2 in TY 2007; N/A indicates the percentages distributed among remaining countries are too small to identify clear preferences Figure 8: GMAT Tests Taken by Location and Citizenship Thailand (TY 2001 to TY 2007) 3,000 GMAT Exams by Citizenship and Location Testing Years ,500 2,000 1,500 1, TY 2001 TY 2002 TY 2003 TY 2004 TY 2005 TY 2006 TY 2007 THAILAND LOCATION THAILAND CITIZENSHIP Graduate Management Admission Council. All rights reserved. Asian Geographic Trend Report

21 FINDINGS BY THAI CITIZENSHIP Chulalongkorn University received the most GMAT score reports from Thai citizens in both TY 2003 and TY Chulalongkorn University was also the only Thai university to make the rankings in either year. All other schools in the top 10 for Thai citizens were U.S. schools/programs. The majority of the U.S. schools on the list in TY 2007 were located in the northeastern United States. In TY 2003, the majority of score reports were sent to schools located in the western United States. Many of the schools/programs selected by Thai citizens in TY 2007 are new to the rankings, a school selection pattern similar to that of examinees living in Thailand. The number of score reports received from Thai citizens by the top 10 schools ranged from more than 200 for the highest ranked to 75. Table 17: Top 10* Schools/Programs to which Thai Citizens Sent Score Reports 1. Chulalongkorn University 1. Chulalongkorn University MBA 2. San Francisco State University 2. UC Berkeley MBA 3. San Diego State University Full-Time MBA 3. Columbia University MBA 4. California State University, Long Beach 4. Northwestern University MBA 5. UC Berkeley MBA 5. San Francisco State University MBA 6. University of Illinois Urbana 6. New York University MBA 7. California State University, Fullerton 7. UC Los Angeles (UCLA) MBA 8. California State University, Los Angeles 7. MIT Sloan School of Management MBA 9. Northwestern University 8. University of Pennsylvania MBA 10. University of Southern California, MBA 9. University of Illinois Urbana MBA *Based on number of score reports received. Findings by Pakistani Citizenship GMAT-using schools in Pakistan attracted slightly more than 4% of their domestic pool in TY 2007, which is less than half of the percentage received in TY Canadian schools also moved down in the rankings for the group. Instead, citizens of Pakistan chose to send more score reports to schools located elsewhere abroad. Schools located in Europe saw the most gains, with the percentage of score reports sent there by Pakistani citizens increasing from 10.02% to 17.35% from TY 2003 to TY Singapore also experienced a pronounced change: the percentage of GMAT score reports sent to Singapore by citizens of Pakistan more than tripled during the time period studied. Asian Geographic Trend Report Graduate Management Admission Council. All rights reserved. 19

22 FINDINGS BY PAKISTANI CITIZENSHIP Table 18: Top 10* Countries to which Pakistani Citizens Sent Score Reports 1. United States 60.10% 1. United States 59.65% 2. Canada 17.15% 2. United Kingdom 14.86% 3. Pakistan 8.96% 3. Canada 13.74% 4. United Kingdom 8.39% 4. Pakistan 4.28% 5. France 1.63% 5. France 2.15% 6. Australia 1.50% 6. Australia 1.85% 7. Singapore 0.41% 7. Singapore 1.43% 8. N/A N/A 8. Spain 0.34% 9. N/A N/A 9. N/A N/A 10. N/A N/A 10. N/A N/A Total N 3,860 Total N 3,574 *Based on number of score reports received; Average score reports sent per examinee: 3.5 in TY 2002; 3.2 in TY 2006; N/A indicates the percentages distributed among remaining countries are too small to identify clear preferences. Figure 9: GMAT Tests Taken by Location and Citizenship Pakistan (TY 2001 to TY 2007) 1,200 GMAT Exams by Citizenship and Location Testing Years , TY 2001 TY 2002 TY 2003 TY 2004 TY 2005 TY 2006 TY 2007 PAKISTAN LOCATION PAKISTAN CITIZENSHIP The top school among Pakistani citizens remained consistent from TY 2003 to TY 2007 Lahore University of Management Sciences. This top school is also the only school located in Pakistan to make the list during the period studied. Two of the top 10 schools in TY 2007 are Canadian schools one fewer than in TY Three of the top 10 schools to make the list in TY 2007 were located in the United Kingdom, two of which were new to the rankings. The majority of the U.S. schools to make the list are located in the northeastern United States. The number of score reports received from Pakistani citizens by the top 10 schools ranged from 260 for the highest ranked to Graduate Management Admission Council. All rights reserved. Asian Geographic Trend Report

23 FINDINGS BY SINGAPORE CITIZENSHIP Table 19: Top 10* Schools/Programs to which Pakistani Citizens Sent Score Reports 1. Lahore University of Management Sciences 1. Lahore University of Management Sciences MBA 2. Harvard University MBA 2. Harvard University MBA 3. University of Toronto MBA 3. University of Toronto MBA Two-Year 4. University of Pennsylvania MBA 3. Stanford University MBA 5. McGill University MBA 4. London Business School MBA 6. York University 5. University of Pennsylvania MBA 7. London Business School 6. Columbia University MBA 7. Stanford University MBA 7. York University MBA 8. Columbia University MBA 8. London School of Economics & Political Science All LSE Programmes 9. New York University MBA 9. University of Oxford MBA *Based on number of score reports received. Findings by Singapore Citizenship GMAT-using schools in Singapore attracted more than 40% of their domestic pool in TY 2007 nearly doubling the percentage they attracted in TY As Singapore moved up in the list during the time period to become number one on the list, many of the top 10 countries for this group experienced a decrease in score reports received. U.S. schools, which now receive the second-highest percentage of score reports from Singapore citizens, saw a decline of 14%, greatly narrowing the gap between the top two countries. European schools experienced a smaller decrease of 2.50% in the percentage of score reports received from Singapore citizens in TY 2007 compared with TY More score reports were sent to Asian schools, with China and the Philippines debuting in ninth and tenth place, respectively, in TY Table 20: Top 10* Countries to which Singapore Citizens Sent Score Reports 1. United States 52.45% 1. Singapore 42.71% 2. Singapore 23.54% 2. United States 38.44% 3. United Kingdom 8.75% 3. United Kingdom 5.63% 4. France 4.64% 4. France 5.59% 5. Australia 3.96% 5. Australia 1.49% 6. Canada 3.79% 6. Switzerland 0.90% 7. Germany 0.91% 7. Hong Kong 0.83% 8. Hong Kong 0.65% 8. Canada 0.80% 9. Switzerland 0.32% 9. China 0.73% 10. N/A N/A 10. Philippines 0.69% Total N 3,407 Total N 2,880 *Based on number of score reports received; Average score reports sent per examinee: 3.2 in TY 2003; 2.5 in TY 2007; N/A indicates the percentages distributed among remaining countries are too small to identify clear preferences. Asian Geographic Trend Report Graduate Management Admission Council. All rights reserved. 21

24 FINDINGS BY SINGAPORE CITIZENSHIP Figure 10: GMAT Tests Taken by Location and Citizenship Singapore (TY 2001 to TY 2007) 2,000 GMAT Exams by Citizenship and Location Testing Years ,800 1,600 1,400 1,200 1, TY 2001 TY 2002 TY 2003 TY 2004 TY 2005 TY 2006 TY 2007 SINGAPORE LOCATION SINGAPORE CITIZENSHIP Three programs offered by the National University of Singapore were ranked among the top 10 school/programs to which citizens of Singapore sent score reports in TY 2007, including their parttime MBA program, which was ranked first. Nanyang Technological University, also located in Singapore, had two of its programs make the rankings in TY 2007 their part-time MBA program ranked second and their Masters of Science in Financial Engineering moved up to eighth. Additionally, both universities Financial Engineering programs offer either a double degree or a program collaboration with a U.S. school. The number of schools/programs in Singapore to make the rankings increased from four to six from TY 2003 to TY 2007, with four in the top five. INSEAD, which previously held the third position and is the only European school to make the list, moved down to fifth. Only three U.S. business schools made the list in TY 2007, two of which are located in the northeastern United States. The number of score reports received from Singapore citizens by the top 10 schools ranged from more than 275 for the highest ranked to 80. Table 21: Top 10* Schools/Programs to which Singapore Citizens Sent Score Reports 1. National University of Singapore MBA 1. National University of Singapore MBA Part-Time 2. Nanyang Technological University MBA 2. Nanyang Technological University MBA Part-Time 3. INSEAD MBA 3. National University of Singapore MSc in Financial Engineering 4. Harvard University MBA 4. Singapore Management University MSc in Applied Finance 5. University of Pennsylvania MBA 5. INSEAD MBA 6. Singapore Management University 6. Harvard University MBA 7. Stanford University MBA 7. University of Pennsylvania MBA 8. Columbia University MBA 8. Nanyang Technological Univ. MSc in Financial Engineering 9. Nanyang Technological Univ. MSc 9. Stanford University MBA 10. University of Chicago MBA 10. National University of Singapore MBA Graduate Management Admission Council. All rights reserved. Asian Geographic Trend Report

25 FINDINGS BY INDONESIAN CITIZENSHIP Findings by Indonesian Citizenship The total number of GMAT exams taken by Indonesian citizens decreased dramatically over the period studied, but it appears to be slowly rebounding. The percentage of score reports sent to schools in Asia by Indonesian citizens more than doubled during the period studied, primarily due to an increase in the percentage of scores sent to Singapore. Additionally, China debuted in ninth place in TY Although Asian schools have been experiencing increases, many countries during the time period experienced a decline in the percentage of score reports received from citizens of Indonesia. Schools located in Australia, Canada, Europe, and the United States received a lower percentage of score reports from Indonesian citizens in TY 2007, perhaps indicating increased interest among these examinees to study closer to home. Table 22: Top 10* Countries to which Indonesian Citizens Sent Score Reports 1. United States 77.78% 1. United States 76.30% 2. Australia 4.39% 2. Singapore 8.43% 3. Canada 3.82% 3. Australia 3.08% 4. The Netherlands 3.72% 4. United Kingdom 2.47% 5. Singapore 3.37% 5. France 2.44% 6. United Kingdom 1.86% 6. Canada 1.69% 7. Germany 1.32% 7. The Netherlands 1.66% 8. France 0.89% 8. Japan 1.15% 9. Japan 0.73% 9. China 0.51% 10. Belgium 0.46% 10. N/A N/A Total N 3,713 Total N 2,954 *Based on number of score reports received; Average score reports sent per examinee: 2.7 in TY 2003; 3.0 in TY 2007; N/A indicates the percentages distributed among remaining countries are too small to identify clear preferences. Asian Geographic Trend Report Graduate Management Admission Council. All rights reserved. 23

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