It's been a common truth that during recessions, full-time MBA programs, at least in the US, see an increase in applications.
But here is the thing. What exactly would you do differently if your admissions odds were let's say 20% vs. 35%?
Worrying about your odds is a useless activity. If you want to be a successful candidate, you need action.
If you are applying to a highly selective MBA program this year, time is on your side. There are eight glorious months until Round 1, months you can fill with action. Just don’t waste it in busywork.
Activity is asking the forums “How competitive will next year be”. Action is taking steps to actively build your leadership profile and creating the most competitive candidacy you can, based on your assets.
Activity is preparing for the GMAT or GRE. Action is scheduling the actual exam and showing up – with enough time to retake if your first score disappoints you.
You get my gist. The time to take action is now. Best of luck!