The most affordable MBA programmes in Europe (less than €5,000) | Student Reviews & University Rankings EDUopinions

The most affordable MBA programmes in Europe (less than €5,000)


Despite being a human right, sometimes education is expensive. Many students decide to postpone their studies due to their financial situation. In the next few paragraphs, EDUopinions will talk about the cheapest country to study in Europe, requirements and benefits, and will list the most affordable MBA programmes in Europe. In other words, European MBA programmes below €5,000 per year.


Which is the cheapest country to study in Europe?

Some European countries offer more affordable tuition fees than others but the cost of living might be higher. For example, European students can study for free in countries such as Denmark and Sweden but as the quality of life is higher, so are the bills. Many of the German states also offer free education to all students, who only have to pay a small fee every semester. Sometimes this fee also covers transportation costs. Furthermore, the Italian higher education is considered accessible as the tuition fees are related to the family income. In other words, fees for the same programme vary from student to student accordingly to their financial backgrounds. Cost of living in Central and Eastern Europe is generally lower compared to Northern and Western European countries. Despite being a western country, Portugal is considered affordable.

Is GMAT required?

GMAT is usually among the requirements for an MBA in Europe, however, students can also present GRE or pass an admission exam. Other requirements are work experience of at least 3 years, a bachelor’s degree or equivalent, and an English certificate. International experience and knowledge of a second language are appreciated.

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What are the benefits of studying in Europe?

Studying in Europe is a great opportunity for individuals to build their desired career. On average, tuition fees are lower compared to those in other parts of the world. Europe is also an important hub for high-quality education and research. Many European universities offer programmes in English. Moreover, travel within European countries is easy and affordable. Last but not least, Europe is home to financial centres such as London, Zurich, Paris, Frankfurt, and more.

The most affordable MBA programmes in Europe (less than €5,000)

Business Administration, M.B.A. at Varna University of Management – Bulgaria

Varna University of Management - campus4

Are you looking forward to studying in a city by the sea? Varna University of Management offers British education in Varna, the third biggest city in Bulgaria. At VUM, students can also opt for a Double Degree. Eduniversal places their MBA as 5th in Central and Eastern Europe. Students can start the programme either in February or October at the Varna or Sofia campus. Its length varies between 18 and 24 months and depends on the bachelor candidates hold. The programme is fully taught in English and offers the following specialization paths: Project Management, Product Development Management, Health Sector Management, Marketing, International Finance, and Human Resources. The programme costs €4,500 per year.

Business Administration, M.B.A. at Turiba University – Latvia

Turiba University - campus

Turiba University opened its doors in 1993 in Riga and since then is the largest business school in the country. Among all programmes, it offers a Master’s in Business Administration, which is a 2-year programme that provides knowledge in various areas of business, including global marketing, human resource management, crisis management, sustainable development and innovation. Yearly fees are €3,000 for international students and €2,570 for EU, Switzerland, Georgia and Ukraine citizens.

M.B.A. at Cyprus Institute of Marketing – Cyprus

Cyprus Institute of Marketing - campus

If you are interested in studying a value for money MBA on a beautiful island with lots of working opportunities, then Cyprus Institute of Marketing is what you are looking for. It offers a full-time or part-time Master in Business Administration in Nicosia or Limassol. During the part-time option, students have three classes per year for two years. Classes begin in January or October. The MBA concludes with a dissertation of 10,000 words. Fees for all students start from €4,000.

Business Administration – International Business, Export Management, M.B.A. at University of Latvia – Latvia

University of Latvia - LU - campus

The Master in Business Administration, International Business and Export Management at the University of Latvia is a 2-year postgraduate programme taught in English. In order to get admission to the Master, candidates should present at least one reference and two years of professional experience in the fields of business or economics. The Master focuses particularly on international economics, marketing, management and finance. Students have to pay €2,150 each year.

Financial Management, M.B.A. at Coburg University of Applied Sciences and Arts – Germany

Coburg University of Applied Sciences and Arts - campus

If your home away from home is going to be Germany, Coburg University of Applied Sciences offers an affordable MBA in Financial Management. The programme starts each year in October, which lasts 22 months and is in English. Students can also get a double degree awarded by USC Australia. Candidates are asked to have at least two years of professional experience. The programme costs €4,700 per year.


You probably almost lost hope in finding affordable MBAs before landing on this page, but now you can start planning your career in one of the countries mentioned above. These programmes are more affordable than the average MBA programmes but can equally prepare you for a bright future in business.

If you’d like to read more on universities in Europe, you can take a look at our article on the 10 best public universities in the continent or the best MBAs in Europe without much work experience.

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Written by
Cristian is the Assistant Editor & Consultant at EDUopinions with a passion for Education and Learning. Born and raised in Italy, he worked and studied in various countries, including the USA, UK, and Denmark.

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