In 2021, HSG made a contribution of 284.2 million francs to the value creation in the canton of St.Gallen, according to HSG’s latest report on its regional impact. In a press release on the report, the university writes that this value added of almost 285 million francs means it generated almost five times the state contribution from the canton of St.Gallen, which is currently 62.2 million francs. The university’s value added contribution was 38.2 million francs higher than in the previous year.
The students of HSG make the biggest contribution to value added. In the year under review they generated a total of 132.5 million francs by living, eating and shopping in the canton. The direct inflow of purchasing power from the university itself amounted to 60.7 million francs and around 7 million francs was attributable to participants in continuing education. In 2021, around 13 per cent of of all overnight stays in the city of St.Gallen were generated by these continuing education programs.
As well as the direct financial benefits, the report also investigates other positive effects for the region as a business location and place to live. For example, HSG trains skilled workers for the regional economy. The university is also “an important source of ideas for promising start-ups in Eastern Switzerland,” says Cornelia Gut-Villa, Managing Director of the Startfeld Foundation, in the press release. “Thanks to the start-ups, new jobs are created in the region.” According to HSG, 96 per cent of the university’s over 160 spin-offs have expanded their staff teams since they were founded.
