Studying abroad typically gives your resume a nice boost and improves your post-graduate employment prospects, particularly if you're considering a career in business, international affairs, or government service. Nowadays, employers actively seek college graduates who have spent time studying abroad because they want employees with an international knowledge base as well as foreign language skills.
The same international skills that make you more marketable for employment are also valued by graduate schools. These skills include cross-cultural communication skills, analytical skills, teamwork, flexibility, an understanding of cultural contexts, the ability to adapt to new circumstances and deal with differences, a developed view of the world outside the U.S., independence, and self-confidence.