A contemporary definition of diaspora points to communities that are transnationally dispersed but remain connected to their place of origin. Accordingly, diaspora do not have an objective existence but are forged through a variety of means, involving multiple agencies and sites of formation. One of these sites is higher education. Based on interviews conducted with Indian and Chinese students in Australia, this paper suggests that recent policies and practices of internationalisation of higher education, shaped by market rationality, have steered international students in Business Studies towards particular forms of diaspora, aligned to a range of beliefs about the importance of their participation within the global economy and in particular their role in facilitating transnational regimes of business activities.