Swiss tech universities boost economy by CHF13 billion, report says
ETH Zurich is consistently ranked one of the top universities in Europe.
Keystone
Switzerland’s federal technology institutes account for 100,000 jobs and CHF13 billion in added value to the economy, a new report calculates. This represents a fivefold return on investment, it claims.
The institutes – notably the universities of EPFL in Lausanne and ETH in Zurich – have long been acknowledged as vital components of the Swiss image and economy; the reportExternal link by British consulting firm BiGGAR now tries to put a value on it.
According to the report, the entire federal technology (ETH) domain employs around 21,000 staff and has an annual budget of CHF3.5 billion ($3.74 billion). However, the estimated gross added value to the economy, BiGGAR claims, is almost four times as much, at CHF13.3 billion.
The consultants also claim that another 98,000 jobs in Switzerland depend on the EPF domain, which means that each staff position is responsible for the creation of 5 more.
The study points to the various international firms that have set up in close proximity to the universities in order to take advantage of the highly-trained graduates. Google and Disney in Zurich, for example, where the tech giant employs 2,000 people and is planning to expand; and Intel and Texas Instruments in Lausanne.
New business ideas and start-ups are also encouraged by the innovative ecosystems of the universities; one in seven new innovative businesses in Switzerland is a spin-off from ETH Zurich or EPFL, the report says.
Popular Stories
More
Culture
Wealth is not all: how gentrification in Zurich has led to housing shortage
Is reforming the Swiss pension system still possible, and if so, how?
Solutions still need to be found to meet the challenge of an ageing population and to improve the pensions of low-paid workers, the majority of whom are women.
This content was published on
The suspension of asylum procedures decided Monday following the fall of Bashar al-Assad affects 500 Syrian applicants in Switzerland.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
What do foreign students in Swiss universities do after graduating?
This content was published on
One in five students in the upper levels of Swiss universities comes from abroad. After graduation, almost 40% leave the country again.
ETH Zurich remains top university in continental Europe
This content was published on
ETHZ is the highest-ranked university in continental Europe – four British universities came in the top ten – in the annual rankingsExternal link, published by London-based education company Quacquarelli Symonds on Tuesday. Other Swiss institutions among the 916 universities from 81 countries are the universities of Zurich (ranked 80), Geneva (95), Lausanne (138), Basel (141),…
Are university costs in Switzerland going the way of the US?
This content was published on
University study fees in Switzerland currently vary between CHF1,000 and CHF2,500 ($1,010-$2,525). However, with living costs like rent, transport, food and books, the average cost is CHF27,600 a year for a student living outside the family home, according to a 2013 study carried out by the Federal Statistical Office.External link It can cost about the…
This content was published on
Switzerland’s two federal technology institutes are the world’s most international universities, finds the latest ranking.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.