The booming economy in much of Southeast Asia has created a high demand for educated executives. Business schools are addressing the demand by creating new and exciting Executive MBA offerings and partnering with top EMBA programs around the world to develop forward thinking, global leaders.

As companies in Asia ride a steep growth curve, there is an increasing demand for professionals and leaders to help seize the emerging opportunities. Alvin Tan, Assistant Managing Director at the Singapore Economic Development Board, says, "There is a strong demand for leaders, as companies expand in Asia, to tap the growth opportunities here. In particular, talent with both a global mindset and an Asian perspective can help companies navigate and orchestrate a wide spectrum of activities across Asia."

The demand for skilled human capital has transformed Asia into the new hotspot for executive education. Executive MBA programs, which allow professionals to earn an MBA without leaving their jobs, are a big draw. According to score reports for the Graduate Management Admissions Test (GMAT™), in the past five years the number of applicants from China, India, Hong Kong and Singapore sending their test scores to schools in these countries has increased by an impressive 229%.

Executive education on the rise
As if on cue, business schools have turned their focus to executive education. Global schools such as INSEAD, Chicago Booth and ESSEC are consolidating their positions in the region. As Dipak C Jain, Dean of INSEAD, explains: ˇ§INSEAD consistently infuses new research and teaching methods in Asia from top faculty. It is our goal to help develop exceptional leaders who can deliver real value to their organizations and communities in one of the fastest-developing markets in the world.ˇ¨

While schools such as INSEAD, Chicago Booth and ESSEC have a presence in Singapore, Richard Ivey School of Business has set up a campus in Hong Kong, HEC Paris is in Beijing and Duke Fuqua is establishing a campus in Shanghai. By making a beeline for this strategically important zone, schools are making sure they are connected to Asian MBA recruiters and can train students in Asia specific business skills.

Local business schools compete
Not to be left behind, local business schools in the region are proving to be formidable competitors for their western counterparts. According to the QS Global 200 Business Schools Report 2012, year on-year, business schools in the Asia-Pacific region are strengthening their role in the global MBA education scene.

For example, the number of Asian and Australian schools feature in the 2012 Report has increased to 36, from just 10 in 2004. This rapid rise in the number of internationally recognized schools is indicative of the improving standards of Asian institutions, as employers increasingly recognize the quality of MBA graduates from certain schools in the region.

MBA rankings
Since 2009, eight business schools in China and Hong Kong have featured in the QS Global 200 rating: China Europe International Business School (CEIBS); Peking University, Beijing International MBA Programs (BiMBA); HKUST (Hong Kong University of Science and Technology's School of Business and Management) Business School; Faculty of Business and Economics at the University of Hong Kong; School of Economics and Management at Tsinghua University; Chinese University of Hong Kong; Guanghua School of Management, Peking University; School of Management at Fudan University.

HKUST Business School and CEIBS have featured prominently in the business school ratings since 2009. CEIBS (China European International Business School) - which has campuses in Beijing, Shanghai and Shenzhen - enrolls some 700 new Executive MBA students every year.

Hina Wadhwa, QS TopExecutive Editor-in- Chief adds, "As middle-managers, executives and entrepreneurs (many of whom run family businesses) in Asia look at grasping the opportunities the regionˇ¦s expanding growth presents, management education will also grow and innovate - to create a unique blend of Exec Ed with an Asian flavour - enticing for managers from the West too. Watch this space."