Australia hands down. Yes it's far and expensive to get there...but it will be well worth it. I did my last semester of my MBA there and it was the experience of a lifetime. Plus Bali is near so you can do a trip on the way back home. UNSW is a great school and in the heart of Sydney if you can get in. You can live at the beach and take a bus to class (approx 20min). As far as nightlife goes...well...hopefully you'll see for yourself!