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With one of the best climates in Europe, a distinct cultural identity, and a growing number of internationally-recognized universities, it’s little wonder why Spain is one of the top Master destinations for international students and one of the most visited countries in the world. While a high proportion of Spain’s international students flock to the cosmopolitan cities of Madrid and Barcelona, you will also find large student populations in the likes of Granada, Valencia, and Bilbao.
Although Spain lies within Western Europe – one of the wealthiest regions in the world – both tuition fees and living costs are very reasonable compared to some of their European neighbors. You’ll find that most courses around the country are taught in Spanish, but there are increasingly more English-taught programs in the international cities of Madrid and Barcelona. Those two cities are also home to some of the best business schools in Europe such as IESE, IE, and Esade, all of which rank among the top 20 in the continent.
International students from non-EU/EEA countries or Switzerland need a student visa to study in Spain. Applicants will need to provide information such as details of the study program, proof of medical insurance, proof of funds, and information about where you will be living. The student visa is typically valid for the duration of your course and allows students to work for up to 20 hours a week. With a student visa, your family members can also join you during your studies in Spain.
To work in Spain post-graduation, you need a Spanish Work Visa (unless you are an EU passport holder). Different types of work visas are available, such as Long-Term Work Visas, Seasonal Work Visas, Au Pair Visas, and the EU Blue Card.
Spain has a number of national banks that also offer English-speaking services. The main Spanish banks are Banco Santander, BBVA, Caixabank, Bankia, and Banco de Sabadell. International students have to wait until they are in the country before opening a bank account. Documents required for opening a bank account in Spain include proof of ID, proof of address, and your Spanish NIE number (Número de Identidad de Extranjero). The cost of having a bank account in Spain includes maintenance fees (typically EUR€8/month or more), ATM fees, and transfer fees.
Available payment methods in Spain include cash (which remains the most frequent type of payment), debit cards, credit cards, direct debits, online and mobile payments, cheques, and international money transfers.
Spain offers high-quality, accessible healthcare services. In fact, Spain has one of the best healthcare systems in the world. When it comes to health insurance in Spain, EU citizens are automatically entitled to free, basic healthcare in Spain. To show proof of health insurance coverage, EU students can obtain a European Health Insurance Card (EHIC) from the public health authority of their home country before traveling to Spain. The EHIC is free and valid in all EU countries, as well as Iceland, Liechtenstein, Norway, and Switzerland.
Non-EU citizens must secure private health insurance before arriving in Spain, with a maximum coverage amount of EUR€30,000. Non-EU international students will also need to submit a medical certificate showing proof of good health in order to obtain a student visa.
Universities in Spain generally provide student accommodation in the form of student resident halls (Colegios Mayores) or student apartments. Other types of student housing in Spain include host families, studio apartment rentals, apartments and flats, and shared apartments with roommates.
The cost of accommodation varies by location in Spain. Barcelona and Madrid are more expensive than other cities in the country. The average monthly rental cost of a one-bedroom apartment in Barcelona is around EUR€850. In Madrid, it is around EUR€1,000 per month. You should also take other factors into consideration, such as rental deposits, utilities, and application fees.
Spain has several public transportation options, including trains and metro systems, buses, taxis and ride-sharing services, and long-distance coaches. Renfe is Spain’s national railway company, serving over 510 million passengers every year. You can expect to spend between EUR€40-50 per month on public transportation (though this varies per city). Students (aged between 14 and 25) can make use of the +Renfe Joven 50 Card, which offers 25-50% discounts for mid- to long-distance trips. The +Renfe Joven 50 Card costs EUR€50 and is valid for one year.
Some cities even offer bike-sharing schemes, providing a fun and sustainable way to get around. In Madrid, for example, you can hire a BiciMAD electric bike for EUR€2 for the first hour (and €4 thereafter). In Barcelona, Bicing supplies standard and electric bikes, costing €0.35-0.55 for the first half-hour.
The Big Mac Index was invented by The Economist in 1986 as an informal way of measuring the purchasing power parity (PPP) between two currencies. The price of a Big Mac in Spain is EUR€4 (equivalent to US$4.22 and JP¥541). For US$50, you can buy 11 Big Macs.
Tuition fees at public universities range between EUR€200-€4,000, while tuition fees at private universities cost up to €30,000. Compared to other countries in Europe, Spain has a relatively low cost of living. Students should expect to spend between EUR€900 and €1,200 per month.
Both the tuition fees and living costs in Spain are lower than in their European neighbors. Tuition fees for master’s degrees at public universities will typically not exceed EUR€4,000 per year. Living costs vary depending on the city: in Madrid and Barcelona, you can expect to pay an average of EUR€600-€1,000 for your monthly rent, but that figure is considerably cheaper in smaller cities in Spain.
International students from non-EU countries need a student visa to study in Spain. Applicants will need to provide information such as details of the study program, proof of funds, proof of medical insurance, and information about where they will be living. With a student visa, students can also work for up to 20 hours a week. Your family members can also join you during your studies in Spain.
The University of Barcelona, Pompeu Fabra, and the Complutense University of Madrid are three of the highest-ranked universities in Spain. You’ll find the highest-ranking Master programs in business schools such as IE Business School, IESE Business School, and Esade Business School. These schools are ranked among the best in Europe by the Financial Times, The Economist, and Forbes.
The Spanish job market is one of the more challenging in Europe, with high levels of unemployment in certain regions of the country. However, Spain remains the fourth-largest economy in Europe and a master’s degree puts job seekers at a significant advantage.
With a relatively low cost of living and high quality of life, Spain attracts over 100,000 international students every year.
Want to know what it is really like to do be an MBA student? Do you have a specific question about a graduate school or MBA program, or would you like to know what life is like at your selected study destination? Get in touch with these student ambassadors, who will be happy to share their insights and real experiences with you.
to make the best choice for your Master
to make the best choice for your MASTER
Brought to you by EDUNAKHO Group. MASTERGRADSCHOOLS and MASTERTUBE together form a platform dedicated to helping you find your dream MASTER Program.
Brought to you by EDUNAKHO Group. MASTERGRADSCHOOLS and MASTERTUBE together form a platform dedicated to helping you find your dream Master Program.
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