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This study investigates the effects of collaboration and competition on students' learning performance in a course of business statistics. The collaboration involved a simultaneously organised group competition project with analysis of real-life business problems among students. Students from the following schools participated: JAMK University of Applied Sciences in Finland, Universidad Complutense de Madrid in Spain, and Sabanci University in Turkey. The results support earlier literature on positive impacts of group collaboration on learning performance but deny any negative impacts of competition. It is also found out that learning performance may be influenced to a certain degree by cultural differences in perceptions towards collaboration and competition. Overall the international competition and the touch to real-life business problems stimulate students' engagement and result in enhanced learning towards becoming "intelligent consumers of business statistics".