HEC MiM is the best Master's programme in France for Business, and from most of the students I talked to on campus, they seem to laud the program for its exit opportunities. Key to this is the 2 year structure with an optional gap year in the middle, which would allow you to recruit essentially 2-3 times depending on what you're looking for (for IB it's sometimes possible to do 2 SA's for example, whereas from INSEAD some might not take you since it's a 1 year programme). Within your last year at HEC you can also specialise in any of the 1-year Master's they offer, even the MIF if you are academically outstanding. HEC also has pretty great career support for entrepreneurship, where they have both the launchpad programs and numerous startup/venture capital courses you can opt into, cannot talk about INSEAD as I don't know.
HEC generally has decent places in Dubai as well, though it's not as strong as more well-known (LBS, LSE, Ivy Leagues) business schools. That said, the INSEAD MiM like you said is a newer offering and generally INSEAD is not seen as a 'Master's' School - it's not a Grande Ecole like HEC is. The people I have talked to from the programme don't seem to have had the best exit opps, but low sample size + it's been a very difficult year for recruiting. From the things I know about INSEAD, i'd say it's pretty overhyped and seems to be going downhill in terms of reputation, maybe some other commenters can share their opinions.
While I don't know about life at INSEAD I can say campus life on HEC is not the best, so for 2 years you might get pretty bored. Neither campuses are in Paris and you might sometimes smell cow dung on the way to class at both, it is what it is.
Take also into account the fields you are interested in; HEC is known as a finance powerhouse within EMEA, but considerably less people know it within the 'broader' business world in the region. Being that you are Australian with what I assume is no working proficiency of major European languages, the places you can work narrow down considerably to London, maybe Paris (but not client-facing roles), maybe Switzerland (very unlikely), Dubai & Australia. Perhaps going for a more well-known school name like LSE or LBS would help you break in easier in those geographies.
Lastly, the 10K saved could mean a lot, but like I mentioned earlier you are getting essentially double the time for it at HEC than you are at INSEAD. If you already have a lot of work experience and are worried of the opportunity cost of a 2-3 year programme, then INSEAD might be for you. If you are eager to learn more though + gain more experience, HEC is a lot more bang for your buck.