Big business is based in big cities, and those looking to study business or business-related programs are after drawn to the world’s major business hubs, not least due to the dream of finding prestigious internships and graduate training schemes nearby. Below, we’ve listed 8 of the best cities for business students. Drawing on the results of the QS Best Student Cities 2015 and the QS World University Rankings by Subject 2015: Business and Management, we look at the number oftop business schools in each city, as well as the general industry outlook.
While some of the best cities for business listed below may be more obvious than others (ahem, London!), there’s still plenty of diversity on offer, with cities across Asia, Europe, North America andOceania.
1. London
The UK’s leading financial hub, generating as much as 22% of the entire country’s GDP and home to over 840,000 private sector businesses, London has a lot to offer prospective business students. Not only does the city host the world’s number one institution in the recently released business and management ranking, it is also home to 100 of Europe’s largest companies, meaning graduate opportunities for business students are plentiful.
Few cities in the world can rival London's credentials as a nerve-center of global academia. Among its 19 internationally ranked universities, the current leaders are UCL (University College London)and Imperial College London, which rank 7th and 8th respectively in the QS World University Rankings® 2015/16.
King’s College London is also within the global top 20, the London School of Economics and Political Science (LSE) is ranked second in the world for social sciences, and a whole host of other prestigious institutions are scattered throughout the metropolis – along with world-leading facilities such as The British Library, which constitutes one of the most extensive and significant collections of books and manuscripts in the world.
Yet the UK's capital also offers far more to students. As well as being an academic hub, it’s one of the planet's great centers of culture and creativity, famed for its museums, arts scene, nightlife and diversity.
London is also one of the world's most important financial hubs, making it an attractive choice for those with an eye on corporate careers, as well as being among the world’s leading places to find work in media and the arts, and a host of other industries.
For many students, both domestic and international, the main sticking point is affordability. For international students, tuition fees at London's top universities approach those charged in the US, while home and EU undergraduate students are feeling the impact of major fee increases implemented in 2012. In addition, rent and living costs are significantly higher in London compared to the rest of the UK.
Yet thanks to the concentration of world-class universities and facilities, the professional and social opportunities, and a mind-boggling cultural confluence that mixes the corporate and the alternative, the historical and the cutting-edge, studying in London may well be worth every penny.
Ranking in the QS Best Student Cities 2015: 3rd
QS Best Student Cities ranking 2016: 5th
Top business schools in London: London Business School (1st for business and management);London School of Economics and Political Science (LSE, 9th); Imperial College London (35th); City University London (51-100); King's College London (KCL, 51-100); UCL (University College London, 101-150).
2. Seoul
South Korea is one of the four ‘Asian tigers’, renowned for their remarkable economic development throughout the second half of the 20th century and beyond. The capital city of Seoul is where this growth is most evident; it’s now the world’s fourth largest metropolitan economy, following global cities Tokyo, New York City and Los Angeles. Also one of the largest cities in the world, Seoul is home to another impressive selection of the world’s 200 top business schools.
Long since labelled as an up-and-coming Asian city, Seoul is South Korea’s capital and one of its most exciting study destinations. In the QS Best Student Cities 2016, Seoul retains its place among the world’s top 10 cities for students.
The city scores well in a number of indicators used to compile the index, most notably in the “employer activity” category, which reflects the strong reputation of universities in Seoul amongst domestic and international employers.
The city also scores brilliantly within the “university rankings” category, gaining the highest score in the top 10 outside of Paris and London. This score is explained by the impressive fact that there are 14 universities in Seoul featured within the QS World University Rankings® 2015/16, the highest ranked of which is Seoul National University, at 36th in the world.
But it’s not just about superb rankings and reputation. Seoul is a 24/7 city in which life is never dull. Whether it’s the sounds of night-market sellers, the atmosphere of the all-night tea houses or the cries of gamers at a ‘PC bang’ (gaming center), Seoul is as alive at 3am as it is at 5pm. The magic of this city is that boredom is impossible, with culture, history and creativity everywhere you turn.
If you need some more restful down-time from your studies, Seoul also offers many opportunities to find your inner Zen, whether at one of many Buddhist temples or in a traditional sauna or spa. Further tranquility can be found less than one hour outside of the city walls, where you can explore South Korea’s mountainous landscape and charming, historic villages.
Ranking in the QS Best Student Cities 2015: 10th
QS Best Student Cities ranking 2016: 10th
Top business schools in Seoul: Seoul National University (SNU, 33rd for business and management); Korea University (45th); Yonsei University (48=); Sungkyunkwan University (51-100);Hanyang University (151-200); Kyung Hee University (151-200); Sogang University (151-200).
3. Boston
The wider metropolitan area of Boston is home to two of the world’s most famous institutions – Massachusetts Institute of Technology (MIT) and Boston, which come first and fourth in the overall QS World University Rankings®. These two are also internationally renowned for business and management, thanks to the ultra-prestigious Harvard Business School and MIT’s Sloan School of Management. A fairly affluent, leafy city in the US’s New England region, Boston promises booming industry in biotechnology, financial services and tourism.
Boston is certainly one of the world’s best-known academic hubs, and in the QS Best Student Cities 2016 it retains its position within the global top 15, ranking joint 13th alongside Canadian citiesToronto and Vancouver.
Boston’s leading position is bolstered by universities located within the Greater Boston area, in the neighboring town of Cambridge. The most famous of these are the Massachusetts Institute of Technology (MIT) and Harvard University, which are both consistently ranked among the very top universities in the world. In the QS World University Rankings® 2015/16, MIT retains its place as the world’s number one university, while Ivy League member Harvard University comes second.
While these two institutions have no shortage of attractions of their own, the proximity of Boston certainly doesn’t take away from their appeal. As one of the most historic cities in the US, Boston combines the hustle and bustle of a major metropolis and a happening arts, politics and culture scene, with an abundance of open green space and the stunning fall colors for which Massachusettsand the region of New England are famous. In addition to the academic might of MIT and Harvard, Boston is home to five more internationally ranked universities, forming a hub of intellectual endeavor which has earned it the nickname “the Athens of America”.
Thanks in part to the two showstoppers, MIT and Harvard, Boston has a great score in the “university rankings” category of the Best Student Cities index. It’s also one of the highest scorers in the “employer activity” category, reflecting the strong international reputation of its institutions among graduate employers around the world.
The city’s weakest score, predictably, is for affordability, with fees at top US universities exceeding US$40,000 per year. But in fact both MIT and Harvard operate need-blind admission policies for all applicants, including international students, and generous financial aid packages mean Boston’s universities may not be as out-of-reach as they at first appear.
Ranking in the QS Best Student Cities 2015: 6th
QS Best Student Cities ranking: joint 13th
Top business schools in Boston: Harvard University (2nd for business and management);Massachusetts Institute of Technology (MIT, 6th); Boston University (51-100); Boston College (101-150).
4. Hong Kong
This ‘special administrative district’, a bustling island city on the southern coast of China, Hong Kongemerged from a series of historical conflicts to become the thriving hub of global trade and finance it is today. Known for its gleaming skyline and efficient infrastructure, Hong Kong has a highly developed capitalist economy offering more economic freedom than anywhere in the world, and the seventh largest stock exchange. To read more about studying in Hong Kong, see our dedicatedguide.
One of the world’s leading financial centers and most densely populated pieces of land, Hong Konghas long been regarded as a meeting point for different cultures, with a truly global outlook and atmosphere.
Hong Kong owes its high position in the QS Best Student Cities 2016 index to its high density of high-ranking universities, high rating from graduate employers, relatively diverse student community, and a strong overall score in the “desirability” category. It ranks 21st (out of 372) in the Numbeo safety index, and 46th (out of 140) in The Economist’s 2015 Global Liveability Ranking.
Hong Kong boasts many of the leading universities in Asia. Hong Kong University of Science and Technology (HKUST), the University of Hong Kong, and the Chinese University of Hong Kong are all ranked among the world’s top 60, with four more Hong Kong institutions featured in the QS World University Rankings® 2015/16.
As well as a density of higher education excellence which only a few cities can beat, Hong Kong also has one of the world’s most internationally diverse student populations, so those who choose to study abroad here will be in good company.
In terms of affordability, the picture is a little more complex. Rent is exorbitantly expensive, but general living expenses such as eating out and transport remain low. International tuition fees are somewhere in the mid-range – much lower than studying in the US, for example, but higher than those charged in Western European countries such as France or Germany.
If you value peace, quiet and personal space, then life in this packed and fast-paced metropolis might be a little daunting, but for those who really want to experience city life in its most heightened form, Hong Kong is without doubt one of the most dynamic and diverse study destinations around.
Ranking in the QS Best Student Cities 2015: 5th
QS Best Student Cities ranking 2016: 8th
Top business schools in Hong Kong: Hong Kong University of Science and Technology (HKUST, 18thfor business and management); University of Hong Kong (HKU, 24th); the Chinese University of Hong Kong (CUHK, 28th); City University of Hong Kong (46=); Hong Kong Polytechnic University (51-100).
5. Melbourne
Australia boasts an impressive number of the world’s most liveable cities, one of which is Melbourne, a city which benefits from strong healthcare services, cultural diversity, low levels of crime and corruption, and pristine, sunshine-smattered streets. As well as offering one of Asia-Pacific’s leading financial centers and five out of 10 of Australia’s biggest companies, it also boasts successful industry within tourism, sports, healthcare, arts and entertainment, and research and development.
The 2016 edition of the QS Best Student Cities index sees Melbourne hold onto second place, thanks to its good selection of universities, and strong scores in the “student mix”, “employer activity” and “desirability” categories.
Seven universities in Melbourne are featured in the QS World University Rankings® 2015/16, the highest-ranked of which is the University of Melbourne at 42nd in the world – second only toAustralian National University on the Australian leaderboard.
Known as Australia’s cultural capital, Melbourne regularly tops lists of the world’s most liveable cities, and is full of all the attractions that make the Australian lifestyle so appealing – including beautiful beaches, nightlife and a fair proportion of sunny days.
If you’re a genuine culture sponge, you’ll be pleased to know that Melbourne’s range of museums is world class, and the city’s cultural calendar is full all year round. If you’re into comedy or live music, Melbourne also has much to offer, from world-famous annual comedy festivals to grungy gig venues packed with students looking for a good time. To wind down, the city offers cool rooftop bars, chic cafés and tasty restaurants serving world cuisine.
Within the QS Best Student Cities index, Melbourne boasts the highest score in the “student mix” category, which is calculated based on the relative size and diversity of each city’s student population, as well as levels of social inclusion and tolerance. Melbourne also scores very highly for “employer activity” and “desirability”, categories which respectively look at the city’s institutions from the point of view of employers and the overall quality of living to be had in the city.
The only factor Australian cities tend to stumble on is affordability, due to relatively high tuition fees and high living costs, and this applies to Melbourne alongside its country-mates. But for high standards of living and incredible natural surroundings, Melbourne is a tough city to beat.
Ranking in the QS Best Student Cities 2015: 2nd
QS Best Student Cities ranking 2016: 2nd
Top business schools in Melbourne: TheUniversity of Melbourne (15th for business and management); Monash University (39=); Royal Melbourne Institute of Technology (RMIT, 51-100);Deakin University (151-200).
6. Singapore
The third Asian tiger featured in this list (along with South Korea and Hong Kong), city-stateSingapore is another Eastern economic success story. Boasting the world’s fourth largest financial center and one of the world’s top five busiest ports, Singapore is also the only country in Asia to hold a triple-A credit rating. Singapore’s booming market economy depends heavily on trade, offering good levels of economic freedom and low tax rates. Surprisingly for a port city, Singapore also boasts some of the world’s lowest levels of corruption, similar to levels seen across Scandinavia. Learn more about studying in Singapore with our dedicated guide.
Small but densely populated, Singapore's reputation as a center of educational excellence has flourished in recent years. Following the progress made by its top universities in the QS World University Rankings® – the National University of Singapore (NUS) now ranks 12th in the world, andNanyang Technological University (NTU) 13th – the city itself has gained nine places in this year’s QS Best Student Cities index.
Alongside growing prominence in the global higher education sector, Singapore remains renowned for its prosperity and low levels of crime and unemployment. In keeping with the city’s strong corporate reputation, Singaporean graduates are much sought-after by international employers, especially throughout Asia.
The downside to Singapore's high standard of living is correspondingly high prices. Singapore is ranked the 4th most expensive out of 214 cities in Mercer’s 2015 Cost of Living Survey, and tuition fees have also increased recently, particularly for international students.
On the plus side, one thing you certainly won't need to shell out for in Singapore is central heating; its position next to the equator means it is equally scorching all year round. And if you fancy exchanging the concrete jungle for the real thing, Singapore is surrounded by tropical scenery, both throughout adjacent Malaysia, and in nearby exotic destinations such as Indonesia, Cambodia, Vietnam and the Philippines.
Ranking in the QS Best Student Cities 2015: 15th
QS Best Student Cities ranking 2016: 6th
Top business schools in Singapore: National University of Singapore (NUS, 11th for business and management); Nanyang Technological University (NTU, 31st); Singapore Management University(50=).
7. Paris
For two years running, Paris has ranked first in the QS Best Student Cities, and for good reason! The city’s position is largely thanks to its affordable higher education fees, combined with its vast number of internationally renowned universities. Boasting five of the world’s top 200 business schools, Paris offers a great environment for business students and graduates alike. The banking and financial center of France, the Paris region accounts for 30% of the nation’s GDP (US$694 billion in 2012) and ranks among the top five wealthiest regions in Europe, with as many as 30 Fortune Global 500 companies headquartered here.
As the French capital continues to deal with the aftermath of the recent terror attacks, it retains its place at the top of the QS Best Student Cities index – topping the list for the fourth year running.
Paris’ strong placing in the ranking is largely due to its high concentration of internationally ranking universities. Home to 18 universities featured in the QS World University Rankings® 2015/16, it lays claim to comfortably more world-leading institutions than any other city on the planet except for London, which has 19.
And while Paris does have a reputation for being an expensive place to live, relatively low tuition fees mean that for students, it actually represents a more affordable destination when compared to many other popular student cities – though of course enjoying all the delights of life in this iconic European capital is certainly likely to demand quite a substantial student budget.
Elite Parisian universities and specialized schools such as ENS Paris, Ecole Polytechnique ParisTech,Sciences Po Paris, Université Paris-Sorbonne (ParisIV) and HEC Paris have produced some of the most important philosophers, theorists, scientists, politicians, business leaders and mathematicians of the last 100 years, along with seminal movements in literature, film and art. Today, Parisian graduates are targeted by a vast range of employers across the continent, as is reflected in the ‘employer activity’ component of the index.
In the end, all the measurements used to create the QS Best Student Cities still don’t capture the real appeal of studying in Paris – one of the world’s most historic, culturally vital and beautiful cities.
Ranking in the QS Best Student Cities 2015: 1st
QS Best Student Cities ranking 2016: 1st
Top business schools in Paris: HEC Paris (13= for business and management); ESSEC Business School, Paris (51-100); ESCP Europe (101-150); Université Paris Dauphine (101-150); Université Paris I Pantheon-Sorbonne (151-200).
8. Sydney
Another of Australia’s most-coveted cities is Sydney, renowned for its cultural landmarks, sandy beaches and as the site of the world’s largest natural harbor. Claiming a US$337 billion GRP (gross regional product) – bigger than the entire nations of Denmark, Singapore or Hong Kong – Sydney has particularly strong industry in finance, manufacturing and tourism. Despite Australia being among the world’s most expensive places to live, wages in Sydney may well compensate for this, offering the 7th highest wage levels of any city worldwide, all great news for business students!
Welcome to Sydney, home of five universities featured within the QS World University Rankings® 2015/16 and one of the best student cities in the world, according to the QS Best Student Cities index.
Although beaten by Melbourne as Australia’s leading student city , Sydney holds its position of 4th best city for students. The reasons for this are numerous, but largely due to its high scores in the “student mix”, “desirability” and “employer activity” categories. The only area in which Sydney receives a lower score is affordability, due to Australia’s relatively high international tuition fees and substantial living costs. But it’s easy to see why so many international students find ways to cover the costs; the combination of education and lifestyle Sydney offers certainly makes for a compelling mix.
As well as being Australia’s financial and economic hub, Sydney is known for the stunning panorama of its harbor, iconic opera house, large selection of green spaces within the city, and proximity to beaches which are among the most paradisiacal not just in Australia but anywhere in the world. It’s also been ranked one of the 10 most liveable cities on the planet by both Mercer and The Economist.
Sydney currently has five universities included in the QS World University Rankings®, led by theUniversity of Sydney at 45th in the world and followed by the University of New South Wales at joint 46th.
Ranking in the QS Best Student Cities 2015: 4th
QS Best Student Cities ranking 2016: 4th
Top business schools in Sydney: The University of New South Wales (UNSW, 19= for business and management); University of Sydney (32nd); University of Technology, Sydney (UTS, 51-100);Macquarie University (101-150).
More of the world’s best cities for business students:
Amsterdam
Auckland
Beijing
Berlin
Chicago
Madrid
Milan
Montréal
Munich
New York
San Francisco
Tokyo
Toronto
