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Benefits of global trade to society
17 October 2025
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Benefits of global trade to society
Why pursuing a master’s in international business and trade makes a difference
Written by Alex Boome, Program Director at the Hinrich Foundation
Global trade is a cornerstone of economic growth and social development worldwide. It creates jobs, drives innovation, expands product choice and fosters international cooperation essential for a peaceful and prosperous future.
For young professionals considering a master’s degree in international business and trade, understanding these benefits – and how education prepares them contribute to achieving them – is key to shaping a rewarding career.
The Oxford Economics paper, “Global Trade Education: The Role of Private Philanthropy,” highlights how global trade has significantly boosted prosperity worldwide. However, this growth relies on skilled leadership – experts capable of navigating complex trade policies, geopolitical uncertainties, supply chain disruptions and digital transformation. Quality MBA and specialized master’s programs develop such leaders, who in turn drive sustainable and inclusive economic progress aligned with the UN sustainable development goals.
Prospective students looking for top programs in international trade can turn to the QS International Trade Rankings. When evaluating specific programs to prepare them to address real-world challenges, prospective students should confirm programs offer instruction in the following content areas and reflect the attributes outlined in the Hinrich Foundation Guide to Master’s in International Business and Trade, namely:
Trade course content areas
- Cross-border trade
- Cross-border trade policy
- Cross-border logistics & supply chain management
- Cross-border trade finance & accounting
- Cross-border leadership & soft skills
- Future skills for global trade
Trade program attributes
- Industry aligned curriculum & engagement
- Practitioner professors
- Career services & employer recruitment
- Alumni support & network
- International exposure
- Leading research
These course content areas and program attributes ensure that students not only gain knowledge but are also supported in translating it to successful careers in global trade.
The urgency of acquiring these skills is reinforced by Thomson Reuters’ 2023 Global Trade Survey Report, revealing a persistent skills gap. Key findings show that 33% of multinational companies report understaffed global trade functions, while 53% plan to hire more trade professionals, and 37% may outsource roles due to talent shortages. The increasing complexity of trade – amplified by geopolitical shifts, regulatory demands, and technology adoption – makes this gap critical. Skills in compliance, legal frameworks, finance, communication and data analytics are especially in demand.
Employing the latest technology, including artificial intelligence, cloud computing and IoT, also requires new competencies to optimize supply chains, enhance compliance and leverage digital trade opportunities. Master’s graduates equipped with future-ready skills become vital assets in closing this gap, boosting both their career prospects and the resilience of global trade systems.
In summary, global trade’s societal benefits range from driving economic development and poverty reduction to fostering sustainable leadership and international collaboration. For ambitious young professionals, a master’s degree that covers core trade knowledge areas while meeting key program attributes is an investment in a fulfilling career and a chance to contribute to global prosperity. By ensuring the master’s program they select offer an education aligned with the skills employers need, students position themselves as leaders and changemakers in the evolving international business landscape.
