Business schools are already experiencing this counter-cyclical trend, with many reporting an increased number of applications and enquiries for full-time programmes. However, the jury is still out over executive education.
Short courses, the bread and butter of many schools, are often the first to be axed by companies in the face of any economic downturn. And there is also a question mark over recruitment. Just how many jobs will there be for the class of 2009?
Eric Weber, associate dean at Iese Business School in Barcelona, Spain, says that so far the school is not worried about job placements, but he acknowledges that student expectations may not be met.
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