“Historically, MBA programmes go where the money is,” says Peter Rodriguez, dean for international affairs at the Darden School of Business at the University of Virginia. “It's apparent that the Middle East is the site of tomorrow's economy and will be a strong financial centre in the years to come. People are trying to get ahead of the curve.”

Establishing overseas programmes and partnerships in the Middle East can help schools raise their international profile, build relationships, recruit top teachers and attract new students.

So far, however, while US universities and specialist schools have successfully established outposts in the region – Education City, located in Qatar, is home to several branch campuses of US colleges including the Weill Medical College of Cornell University, Georgetown School of Foreign Service and Carnegie Mellon – European institutions appear to have taken the lead in the realm of business education.