Bachelor of Business Administration in International Business is a Business management course of three years. This course offers students the understanding of planning, organizing, and controlling the operations of companies or organization in International Sector. Moreover, it aims at developing an understanding of foreign trade and its importance in Indian economic context. In addition, it makes you learn about the multilateral agencies or international business bodies and their role in the foreign trade. The popularity of this program is touching heights at this time. It’s becoming of the most opted course by the students.
BBA in International Business Gaining Popularity
In this 21st century, everyone wants to own his/her own firm. Hence, choosing BBA in International Business is the best choice to go for. It secures you an administrative position in International divisions.
Since the last 20 years, we have witnessed a leap in the International Business practices. Liberalization has offered new layers of International Business or International Trade, for its high probable market. Although, the Indian Foreign Trade contributes only 1.5% of the World Trade, but the diversity is significant.
Growth of Imports and Exports impacting the rise BBA in International Business
According to a new economic policy in 1991, India’s export rate was hardly $17 billion to $18 billion (approximately). But, by the year 2009, it surged to almost $200 billion. As a result, 45% of the GDP is coming from export and import. As a result of enlarged exports, the goods and services trade was increased up to 1.64 % in 2008, which was just 0.92 % in 2003. Moreover, the EXIM policy gave a growth in export industry of 15%. Thus, the World Trade rate of India increased to 1.5% to 1.7% approximately which was 1% earlier. This was achieved through the steps taken by the government, like- setting up Export processing Zones (EZP), Social Economic Zones (SEZ), dry ports for making export and import easier, strengthened the Foreign Trade policy, and some other policies. Hence, International Business has a wide range of employment and entrepreneurial scope in India.
The rising statistics in the import and export is one of the prime reasons behind the popularity of BBA in International Business.
Employment and Salary Outlook
According to the U.S. Bureau of Labour Statistics (BLS), the job rate for financial managers will increase up to 8% from 2004 to 2024. Moreover, the other business management occupation will grow on a rapid scale, adding about 632,400 new employment opportunities.
The marketplace is demanding more accountants and similar officials who will design and examine commercial documents. If we go according to the records of BLS, the salary for business management officials and financial officials in May 2016 was $66,530, higher than the annual wages of the rest of the occupations, which was $37,040.
Student Exchange Program (Foreign)
The course structure offers the students a Student Exchange Program that opens the gate to a bunch of new opportunities. Nowadays, students are an aspirant to go and study in abroad, in order to learn about their business management and skills. This is exactly many universities offer through this course. Also, this opportunity can get you a leg up in the market place. Hence, the study of International Business is becoming the priority of the students these days.
A career in International Business can get wings to your life. The statistics is showing a constant leap in the figures of this field. No doubt, it’s flourishing out to be one of the most widely accepted programs.