Although western economies are struggling and the eurozone faces a continuing crisis, one business is flourishing: financial training.
This year, the CFA Institute, which administers the Chartered Financial Analyst exam, has seen an increase of 17 per cent in applicants from Asia who are eager to sit the first stage of the three-year exam, one of the most widely recognised financial qualifications in the world.
Business schools as well as training companies are seeing increasing demand from Asia, in particular China.
There are several reasons for this thirst for financial training in China says Simon Taylor, director of the masters in finance programme at the Judge Business School at the University of Cambridge in the UK, and they go beyond the desire for qualifications.
“Their banking system is very big and partly because of the rate of growth and partly because they are liberalising, there is a huge demand.”
Like Ms Sparacio, he says that the first task of Chinese banks is to catch up with Europe and the US, particularly in new areas of business.
Financial training a big business in China and Asia