Consequences of the pandemic: 30 million less value created by the HSG in the canton
In late May, the University of St.Gallen (HSG) published a study of its regional impact for the seventh time. The study showed that the HSG’s 2019 value creation for the Canton of St.Gallen amounted to CHF 276.5m. Now, a special evaluation of the monetary effects of 2020 reveals the consequences of Covid-10: within a year, the HSG’s monetary value creation dropped by just over CHF 30m, to CHF 246m. The main cause is constituted by the lower purchasing power effects of the students, who were not on site owing to distance learning. The evaluation is an impressive demonstration of the possible consequences for the canton if the principle of the “classroom university” were to be abandoned.