If you’re thinking of studying at the Swiss Institute of Management and Innovation, then, of course, the cost of study and living is one of your concerns. Previously, we have provided you with information regarding the in-depth living cost and study tuition fee in Switzerland in general. This article will help you have a better idea of how much it will cost you to study and live in Zug, the safest and most prosperous city in Switzerland. 

In particular, we will talk about:

1. The cost of living in Switzerland
2. The cost of living in the city of Zug
3. Cost of living in Zug vs. Zurich
4. Three tips to “survive” in Zug, Switzerland.

The cost of living in Switzerland

Since Switzerland is one of the expensive countries to live in, the cost of living in Switzerland in general and in Zug, in particular, is very high. According to Mercer’s ranking of the most expensive cities in the world last year, many Switzerland cities have appeared on the list. Although the living cost is very high, it is still a top travel and study and living destination for global citizens.

The average cost of living of a Swiss family is significantly higher than its neighboring countries. But since the high salaries and the living cost are commensurate, the citizen here doesn’t have to worry much about the cost of living. With its safe living conditions, modern facilities, wellbeing, no racism, and low crime rates, Switzerland is an ideal country to live, study and work in.

To live in Switzerland, a family of four generally has to pay around 5,407 CHF per month, rent excluding. The cost of living for a single person living here is about 1,467 CHF monthly, excluding rent. On average, the cost of living in Switzerland is 82.07 percent higher than in the U.S, according to Numbeo.

The cost of living in the city of Zug

The city of Zug is famous for being the most expensive and prosperous city in Switzerland; hence, the costs in Zug are higher than the average in Switzerland. Zug ranks first in terms of the most expensive cities (142.33 points). In order to maintain the same standard of life that you can have with 8,000 USD in New York, USA, you would need around 9,027.22 USD (around 8,123.23 CHF) in Zug, assuming you rent in both cities – this is after income tax.

Specifically, the average cost of housing prices is:

• Apartment rental price (1 bedroom) in the city center: CHF 1,966.67 / month
• Apartment rental price (1 bedroom) outside the city center: CHF 1,470 / month
• Apartment rent (3 bedrooms) in the city center: 3,987 CHF / month
• Apartment rental price (3 bedrooms) outside the city center: CHF 3,151 / month

(Note: the above prices are for reference only. Costs may change over time)

A single person has to spend around 1,616.35 CHF (equivalent to 1,796.23 USD) for living expenses, rent excluding. As for a family of four, it costs approximately 6,000 CHF (equal to 6667.71 USD) per month, rent also excluding.

(Source: Numbeo)

Cost of living in Zug vs. Zurich

Zurich is also known as one of the most expensive cities in the world. However, when compared to Zug, the cost of living in Zurich is relatively cheaper. But for some reason, people always seem to neglect Zug when it comes to living expenses. Therefore, we feel the responsibility to mention the living cost in Zug. If you have to spend around 7,600 CHF monthly to live in Zurich, you will need to pay approximately 8,138 CHF to have the same quality of life in Zug.

According to the statistic, daily spending in Zug is 6.47% higher than in Zurich, rent excluding. But if you include the cost of renting an apartment, the amount you have to pay in Zug is 7.09% higher than in Zurich. Because the rent in Zug is 8.39% higher than in Zurich moreover, you will have to pay 14.09% higher for necessities and food in Zug than in Zurich. Local purchasing power in Zug is 4.44% higher than in Zurich. However, when eating out at restaurants, Zug seems to be 2.80% cheaper than Zurich.

Three tips to “survive” in Zug, Switzerland.

The beautiful city of Zug is famous for attracting a large number of foreigners to live here. As a future Swiss international student, here are three tips to “survive” in this city.

Find accommodation in Zug

When comparing different cantons of Switzerland, the tax rates in each state are completely different. Zurich taxes the highest at 41.3%, Lucerne at 32.6%, Lausanne at 41.5%, Geneva at 48%, and Zug at 23.1%. Not to mention, Zug is currently discussing a reduction in the tax rate. While Zug is known as a “tax haven”, accommodation price differences can affect tax rates.

When you live in the city center, you will be living with locals and will be able to learn the (local) language compared to when you live in the suburbs. However, besides housing costs, you need to consider tax rates. Because in some cities/towns in general, lower taxes mean higher housing prices. Zurich is an exception: rent and daily expenses and tax rates are equally high.

Eating out in Zug

While in Zug, don’t miss out on the Gasthaus Rathauskeller. This is a small bistro located in Zug’s Old Town, very close to the Swiss Institute of Management and Innovation – SIMI. At Gasthaus Rathauskeller, you will be able to enjoy spectacular French and Swiss cuisine. Gasthaus Rathauskeller is also famous for its seafood dishes!

If you want to try traditional Swiss food, visit Das Schiff (The Ship). Das Schiff is also located in the heart of Zug’s Old Town. There are also Le Bar du Boeuf, Aklin, Kurioz Bar & Kitchen, Dragon Schatz, Krone Sihlbrugg, and more.

Making new friends

If you don’t like nightclubs or not a nightlife kind of person, you can always blend in by joining different universities or even local clubs, like reading clubs, sports clubs, English clubs, etc.

When in Switzerland, don’t forget to say hello to your neighbors, this will not only help you make new friends but also learn more about them and their culture.

With the above information, we hope that you have found some useful information about the cost of living in Zug and Switzerland. Although it is known to be the most expensive in Switzerland and the world, the facilities, opportunities, safety, convenience, and prosperity, job opportunities offered in Zug and Switzerland are reasons why you should invest your study here.

Source: The Swiss Institute of Management and Innovation