Not every MBA student wants to study in North America or Europe, the traditional strongholds of MBA education, or in the emerging economic superpowers of China and India, come to that. As postgraduates weigh up the value of the nonacademic elements of the business school experience, many are choosing schools in the southern hemisphere, travelling down under to continue their studies.

One leading school in the region is the Australian Graduate School of Management (AGSM), at the University of New South Wales in Sydney, which offers a highly ranked full-time MBA programme.

Diversity is one good reason for studying at AGSM, says Chris Adam, associate dean for postgraduate programmes. “We have a high level of cultural diversity among our students. More than 20 countries are represented on the full-time MBA programme, and the students have a wide range of work experience. Many of our alumni have commented on how useful it was studying with such a diverse MBA cohort.”

Nicole Gibson worked for a Fortune 500 company in Canada before signing up for a full-time MBA at AGSM. “I’m impressed at how the admissions team selected such a dynamic class,” she says. “Seventy-five per cent are international students, and everyone seems to have an outgoing personality.”

Another advantage of studying in Australia is its proximity to some of the fastest growing economies in the world.

Adam says: “Sydney, the fifth largest financial capital in the world, is a gateway to Asia. For participants from America and Europe, it provides an opportunity to travel into that region to work after the MBA.”

Location was certainly a factor for Gibson. She says: “The programme affords me the opportunity to live in Sydney, a dynamic and multicultural city, close to the booming Asian markets.”

And then there is the Aussie lifestyle. Famous for its climate and sandy beaches, it is the perfect destination for students keen on the outdoor life.

A short hop across the Tasman Sea to New Zealand, and the University of Auckland Business School, which has recently moved into the new state of the art Owen G. Glenn Building.

“Social interactions among teaching staff and students are an important element in promoting a collective learning culture,” says Peter Withers, director of academic programmes. “Previously, the school was scattered over eight sites, but now, with everyone in the same building, that collegiality and informal interaction is greatly increased.”

The environment outside the business school is an important attraction too, says Withers. “Why pick Auckland and New Zealand? The simple answer is quality of life. New Zealand has a well-deserved reputation for environmental standards, scenery and leisure activities, and Auckland is New Zealand’s business centre, a modern cosmopolitan city of 1.4 million people, with a diverse ethnic population and a well-developed restaurant and night-life culture.” If that does not sound enticing enough, the MBA education is high quality too, say students.

One executive MBA participant, Tim Allnatt, a relationship manager at ANZ Corporate Banking, says: “Auckland has some fantastic lecturers and external speakers, and allows access to some of the top tier business people in New Zealand.”

Should the antipodean lifestyle not appeal, there are other options for postgraduates heading south. Why not try one of the leading business schools in South Africa, such as Wits Business School in Johannesburg, the University of Cape Town Graduate School of Business, or the University of Stellenbosch Business School?

Or, given the growth of economies in South America, sample the samba experience of Brazilian business life. The Fundação Instituto de Administração in São Paulo runs an AMBA-accredited one year full-time MBA programme in English; alternatively the Coppead Graduate School of Business at the Federal University of Rio de Janeiro offers a joint 14-month global MBA programme.

So there is no shortage of choice for prospective MBA students prepared to travel to the southern hemisphere. As Gibson notes, if you are going to be studying for long hours, on a tough postgraduate programme, it makes sense to enjoy your surroundings.

She says: “The people are genuine, and I absolutely love Sydney. Beachside living as an MBA student sure beats the snow back home in Canada, or the rain in London.”

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