It’s not just Brexit. Top European business professors are leaving the UK for France and Spain, among other destinations.
Why? Uncertainty, and a rise in the ranks of French and Spanish business schools.
In a recent article in the Financial Times, Professor Luis Garicano, a native of Spain who has been teaching in the UK for the past decade said, “Spain is open to business and open to foreigners in a way that the UK no longer is.” He added, “There is no anti-immigrant party in Spain.”
He has company. Of the 120 member schools of the Chartered Association of Business Schools (CABS), almost half have reported being affected by the UK’s decision to leave the EU. 28 percent of schools reported that some of their European professionals have expressed interest in leaving the UK. 12 percent report difficulty in hiring faculty from Europe, and 7 percent report that they have lost staff.
What attracted professors like Garicano in the first place was the UK’s relative economic and financial stability, in addition to top-notch business schools. While the schools are still strong, Brexit has called the UK’s economic and financial stability into question.
Combine the UK’s uncertainty with Brexit with a rise in the ranks of French and Spanish business schools, and many professors have good cause to leave.
This year, two of Spain’s business schools made the Financial Times’s top ten list of schools, in addition to France’s Burgundy School of Business. The Burgundy School of Business recently hired two Greek professors and one Spanish—all had been teaching in the UK since 2008.
Business schools in the UK retain hope—and believe that a business education in the UK still has social and academic currency.
In spite of Brexit, UK business schools are confident that they will rebound, and maintain their place as one of the financial and economic hubs of Europe—and the world.
Learn more about studying business in the UK.
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