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The Graduate Management Admission Council reports that 41% of 547 foreign applicants it surveyed in March had less interest in pursuing a graduate management degree in America, with 66% of 86 U.S. MBA programs reporting decreased applications from international students this year compared to last year. The results of the 2016 election have produced immigration rhetoric and travel bans, restrictive requirements for H1-B visas, and a perception among students in Europe and Asia that the U.S. is becoming “less inclusive and diverse.” While the most prestigious of the U.S.’s 700 business schools are unlikely to be affected, many lesser-known schools depend heavily on tuition from international students. Meanwhile, the Rotman School of Management in Toronto, Canada, is experiencing a 30% increase in applications, with students coming from China, India, and Brazil. Fewer international students applying to the U.S. will result in less growth in the U.S. tech and health care sectors, as many foreign MBA graduate students usually stay and work in the U.S., often seen as the “holy grail” for employment.