Valuing Short-Term Study Abroad in Business

Short-term study abroad courses often claim to provide a unique experience for students, but it is not clear how the value translates into a dollar amount. The paper uses the contingent valuation method to assess participating students' pre- and post-trip perceived dollar value of their study abroad courses at an AACSB accredited business school. We identify a number of benefits associated with the maximum willingness to pay and find that the maximum willingness to pay exceeds the actual cost of the trip, sometimes by a large margin. In addition, we offer a set of learning objectives appropriate to business study abroad courses.