If you want to study for a Business degree in the Netherlands, take the GMAT. It's accepted by all the business schools, and in most cases it's also required.
Those of you going overseas have a choice, because all the best programs accept both GMAT and GRE. The question then becomes, Which test plays to your strengths?
What's the GMAT about?
The GMAT is the more interesting and educational test. It's hardcore logic-based, and you'll learn so much from it that you can really use in a business/political environment or where decisions get made.
The main difference in the GRE
The GRE got a major face-lift in 2011, and now looks more like the GMAT, in many ways. The math section has caught up to GMAT. And the Reading Comprehension has as well. But the major bummer about the GRE is still its ornery focus on vocabulary lists. No doubt those juicy words do liven up a memo, but so does good solid grammar —which the GRE doesn't test. For us, the nail in the coffin is that many of those GRE words are just not relevant in a business context. And yet the new Sentence Completion questions straight up require you know the definitions.