4 Affordable Countries to study an MBA in Europe

4 Affordable Countries to study an MBA in Europe


An MBA has become a much sought-after degree to pursue everywhere around the world, but studying an MBA abroad can be life-changing. It’s easier to do that for students who get scholarships or have the money. Not everyone can afford the high-costs of an MBA degree in Europe. However, what if EDUopinions told you that not only can you study abroad but without those high costs but there are countries in Europe which have low tuition costs as well as low living costs!

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Countries like Greece, Poland, Portugal and Spain are not only naturally beautiful but offer some great options for students pursuing higher education degrees like an MBA. These countries also have friendly locals and affordable living prices, which makes them appealing for International students.

1. Greece

Study in Greece

To give an introduction about Greece – it’s rightly called the “Land of the Gods”. This Mediterranean country with astounding World Heritage sites and stunning beaches will make a student’s lifestyle even more enjoyable. The locals are very friendly and the local food is pretty cheap. Greece also has a thriving nightlife for students who want to let loose during the weekends!

Cost of Living:

Rents per month:  240 – 450 EUR

Local food: 5 EUR

Monthly public city transport: 30 EUR

Basic dinner for two: 15-20 EUR

ALBA Graduate Business School

ALBA Graduate Business School in Athens is spread over three massive buildings and is in the centre of downtown Athens. Established in 1992, it was supported by various bodies including the Federation of Greek Industries, the Hellenic Management Association, and the Employers’ Union in Greece. Now ALBA Graduate Business School operates in conjunction with the American College in Europe and this partnership has proven to be very successful.

ALBA offers an MBA and other Masters in business subjects, as well as working and establishing relationships in the world of commerce outside the institution. The student body is approximately 300 students only and the ALBA community gives a close-knit feel and individual attention to students is given importance as well. The student body comprises of international students which gives a global feel to the campus.

The teaching faculty at ALBA Graduate Business School comprises of staff from all over the world who have experience in other prestigious schools in the area of business and management and beyond. The faculty is from Harvard Business School, Stern School of Business, and London Business School. There are 37,000 people who are alumni of ALBA and many of them work internationally in influential positions.

2. Poland

MBA in Poland

Poland has traditions of academic education going back to 1364. A modern and dynamic country, Poland places a lot of focus on quality education. Over the last year, the country has grown more popular among international students. Poland has over 400 universities and more than 800 programmes are taught in English. Poland is safe and the quality of life is good as well which makes it one of the best countries to consider to study abroad.

Cost of Living:

Rents per month:  300 – 400 EUR

Local food: 4 EUR

Monthly public city transport: 21 EUR

Basic dinner for two: 15-25 EUR

University of Euroregional Economy

The University of Euroregional Economy, Warsaw (WSGE) offers a wide range of courses at several departments: Administration, Pedagogy, Management, Internal Security, Environmental Protection. The main goal of the University is to link education and business. They also prepare WSGE graduates to be professional and well-educated employees. Their education mirrors the ever-changing economy. A wide variety of training, internships (partly co-financed by WSGE), workshops help both the staff and students to constantly develop and to acquire new qualifications.

The University of Euroregional Economy has students from Italy, Spain, Turkey, Nepal, Bangladesh, India, Tajikistan, Ghana, Egypt. All the courses are taught in English.

3. Portugal

Portugal is a land of amazing weather, lovely cuisine, fine wine and stunning beaches. Portugal is also one of the cheapest countries in Europe! The low living costs and affordable tuition fees make Portugal one of the best countries in which to study in Europe.

Portugal also offers a lot of grants and government-funded scholarships to both EU and non-EU students.  In order to be eligible for a grant, you must apply to a university that is recognised by the Portuguese Ministry of Education. Most grants are given to Masters students.

The cost of living per month can vary between 500 EUR to 800 EUR. This covers rent, food, public transport etc.

Cost of Living:

Rents per month:  350 – 530 EUR

Local food: 2-4 EUR

Monthly public city transport: 36 EUR

Basic dinner for two: 15 EUR

Plus, 1st Sunday of each month, students have free access to numerous museums in Porto.

Porto Business School, Porto

Porto Business School aims to be a global network of lifelong change agents, preparing individuals and organisations to thrive in an ever-changing world. Porto Business School is located in a privileged location, close to various types of access and means of transport, from the Francisco Sá Carneiro International Airport to the Sete Bicas Subway Station. Spread over an area of more than 10,000 m2, the facilities of Porto Business School use international models of classrooms and interactive technology.

Porto Business School was the first in the education sector to obtain LEED certification – Leadership in Energy & Environmental Design, which aims to reduce environmental impact.

They also have an Executive MBA. It represents an opportunity for executives with over 10 years’ professional experience that seek to gain a current and accurate vision of today’s business world. The Magellan MBA is a one-year, intensive, international MBA programme perfectly paced to provide participants with the best amount of hard and soft skills, enlightenment and experiences enabling participants to expand the borders of their careers.

4. Spain


Spanish people are known to be extremely hospitable and easy-going. It’s also the most tourist-friendly country in the world! The warm sunny weather, a plethora of cultural activities and natural beauty makes Spain one of the most amiable places for International students. While attending business school here do make sure to immerse yourself in the lovely Spanish culture – admire Gaudi’s architectural masterpieces, including Park Guell and Sagrada Familia, walk along Barceloneta Beach, while in Madrid, you can visit The Royal Palace of Madrid, Prado Museum, Las Ventas Bullring and more.

The best part of studying in Spain as an international student is that they offer a large number of English taught MBAs as well. However, you will learn the Spanish language inevitably as you live here as a student. Which is also a major plus point and can help you in your business career!

As for admissions, usually, proof of English or Spanish proficiency and a high school or a Bachelor’s graduate certificate is sufficient.

Cost of Living:

Rents per month:  1000 – 1200 EUR

Local food: 10-15 EUR

Monthly public city transport: 49 EUR

Basic dinner for two: 31 EUR

EAE Business School, Spain

Founded in 1958, EAE Business School in Spain has over 50 years of experience and the school has helped to train more than 73,000 managers. The students at this university are from 72 countries with professional experience in the business. They provide an Executive MBA, Masters’ and Bachelor degrees.  EAE Business School is a member of some of the most highly ranked international organisations such as AACSB (Association to Advance Collegiate Schools of Business), EFMD (European Foundation for Management Development), CLADEA (Latin American Council of Administration Schools).

Their MBA courses are designed so that participants can enhance and increase their knowledge in business management and administration and work with the main management tools and strengthen their managerial skills and competencies. All of this is enriched by the networking opportunities available with the other participating professionals, teaching staff and the professionals invited to their conferences, discussions and activities, which are crucial for enhancing professional positioning. This provides a wholesome learning experience and students can then enter the world of business with confidence.

Toulouse Business School, Spain

Toulouse Business School has more than 100 years of history. Their campuses are present in  Spain, France, and England which is why TBS Barcelona can also offer its students an opportunity to study abroad. In their campus in Barcelona students have the opportunity to study a bachelor’s degree in Management, which it will result in obtaining an official French degree awarded by the « Ministère de l’Enseignement Supérieur et de la Recherche ».

The Masters in Management course is also there and the time the process is a little different since to get a spot in these studies you will have to pass previously some time studying at the Toulouse campus and had studied MSc Marketing Management and MSc Finance. Both of these degrees will be a double degree awarded by TBS in collaboration with UPC (Universitat Politècnica de Catalunya).

Their teaching system is highly personalised with a commitment to also focus on international students. The international student rate of the TBS Barcelona is very high, only 24% of the students at this campus are Spaniards, other 24% are French and the other 52% come from different parts of the world, making TBS Barcelona an international campus.

TBS Barcelona is leading the rankings in Administration studies in the Le Parisien Etudiant ranking and the L’Etudiant as a Business school ranking winning the first place in 2016. The Financial Times ranking positions TBS Barcelona among the best 50 European Business Schools, as well as its Management degree as one of the 50 best degrees in Europe.

Consider an Affordable MBA Abroad

As we have seen above, studying abroad doesn’t have to break the bank. Instead, save money by applying for grants and scholarships as well to reduce your costs. Countries such as Greece and Poland are especially great as not only are the cost of living so low, but the people are warm and friendly. The education system is great in these countries and you won’t have to worry about language as well as all the courses are taught in English. Studying abroad makes a student global, pushes them out of their comfort zone and also helps develop character as they get to be in touch with various cultures. Studying an MBA in Europe will not only help you with all of the above but also help you to be in touch with worldwide economics which can help you in your business career.

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Editor’s note: This article was first published on the 10th of April 2019. We’ve updated it for current readers.

Written by
Nikita is one of the main authors at EDUopinions, specialised in Higher Education and focused on business studies analysis. She is a digital nomad who works while travelling.
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