Singapore Remains At The Top In Business Education In Asia
Before the passing of the father of modern Singapore, Lee Kuan Yew, he has a vision of transforming the city into an education hub in the region of Asia. He refers to the city as the Boston of the East. Education is given great important in the small nation that there are tuition agencies all over the country to help assist students in their academic goals.
Now, the vision of Lee Kuan Yew is now coming true because of the many positive things that Singapore has to offer. For one, it is located geographically. Second, the government is encouraging to overseas business schools that are trying to enter the country. Third and last, many multinational firms picked Singapore to be the location of their regional headquarters. These are the reasons why Singapore is now considered to be the number one when it comes to business education in Asia.
According to BCG’s global leader in the public practice department, Vincent Chin, there is no denying that there is a fierce competition when it comes to business schools coming from Hong Kong and China but Singapore has managed to stay on top because it promises quality education along with employment opportunities.
The business education of the city state goes back to the 1970s when the faculties are trained in the United States and Australia. This is the main reason why Singapore was able to start MBA programs ten years later.
When 2000 came, Insead which is considered to be an elite business school has already constructed their campus in the country. This is the first time that an international business school has entered the Asian market.
According to Insead’s dean, IlianMihov, the major reasons why they chose Singapore is because it is a multicultural nation and it puts a lot of investment in the knowledge economy of the country. Hong Kong was not even a choice for them at that time because the territory is just shifting back to China’s hands therefore there is a risk present.
One proof that Singapore is a good choice for overseas business schools is how the people give importance in education. In fact, tuition centers are very common in the country because academic excellence is a strong point in the local’s mindset.