Cost Of Living In Switzerland – 2024 Guide (Updated Price) – UniAcco

Switzerland is known for its breathtaking scenery, gorgeous infrastructure, intriguing history, tourist attractions and, last but not least, quality education. Located in the centre of Europe, Switzerland is a rich country. Suppose you are an international student seeking higher education in Switzerland. In that case, you must consider the cost of living in Switzerland to prepare yourself for the expenses that can come your way. In this blog, we will help you understand the cost of living in Switzerland and give insights on planning your budget accordingly.

The Cost Of Living In Switzerland For Students

Students’ living costs in Switzerland can range from EUR 2,536 to EUR 2,736 per month. The table given below lists the exact monthly breakdown:

Cost of Living for Indian Students

Indian students can expect to incur similar costs for tuition fees, travel expenses, groceries, food, clothes, healthcare, etc. 

Expenditure Analysis For Students Living In Switzerland

The image given below depicts the percentage of the expenditure spent on each factor like travel, groceries, monthly accommodation, etc. out of the sum of total accommodation costs for Switzerland which is €2,536.

Education Expenses In Switzerland

Switzerland is well known for its excellent educational system, which provides both domestic and foreign students with a broad choice of educational options. However, when making plans for education in Switzerland, it’s crucial to take the related costs into account.

University Tuition Fees

Given below is a table demonstrating the tuition fees of various course levels in Switzerland Universities. Go through the table for thorough understanding. 

Fees At Leading Universities In Switzerland

As mentioned earlier, Switzerland is known for its quality education. However, the fees at these universities are a bit at the higher end. You must be financially prepared to undertake any course in these universities. The overall fees are as below:

Housing Expenses In Switzerland For Students

Looking for affordable housing is a major challenge for international students studying in Switzerland. Your cost of living in Switzerland majorly depends on the location, proximity to the university, food, convenience, etc. Here we will take a deeper look into the on-campus and off campus accommodation separately:

Accommodation Off-Campus

Average Cost of Living In Switzerland : It costs roughly Euro 1046 for students to live in off campus accommodation and  Euro 1,245 to live in On-Campus Accommodation. 

Living Options: Off-campus provides flexible living options for students including apartments, shared flats, and studio units.

Rental Market: For students looking for off-campus accommodation, understanding the rental market, current rental trends and market conditions is important. Furthermore you must have basic knowledge about lease agreement, deposits, agents and owners.  

Finding Affordable Living: Sourcing useful resources and tips like accommodation marketplaces, affordable living options, internet platforms, and sourcing roommate arrangements is important.

Accommodation On Campus

Rent Prices on Average: On-campus student housing in Switzerland normally costs roughly Euro 1,245 per month, which is less than off-campus accommodations.

Availability versus Demand:, On-campus housing may be in high demand due to limited availability. Therefore, students are advised to apply early. 

Facilities: Before opting for the on-campus housing, you must enquire about the availability of safety measures, transportation, and other emergency services. 

Transportation Costs In Switzerland

Let’s look at some of the transportation costs of public and private vehicles in Switzerland and how to deal with them:

Car Expenses

Vehicle Ownership Costs: Considerations for persons who possess or plan to own a car in Switzerland, such as fuel, insurance, road tax, parking fees, and maintenance.

Parking Facilities: Information on the availability and cost of parking, including street parking, public parking lots, and private garages.

Cost Of Food In Switzerland Per Month

Managing food and grocery bills is an important component of budgeting as a student in Switzerland. Cost of Living in Switzerland and Food prices might vary depending on personal preferences, nutritional needs, and shopping patterns.  Students typically opt for home-cooked meals rather than eating out regularly, with occasional dining-out experiences. Refer to the table below for an overview: 

Grocery Expenses

A swiss student can expect a €52 of average monthly food expense. You must explore low cost supermarkets or grocery stores and compare the pricing and incentives by them.

How To Save Money On Groceries?

• To avoid unnecessary purchases, plan meals and make a shopping list. 
• Compare prices, and identify which one fits your pocket. Avail offers and discounts at every opportunity.
• Consider purchasing store-brand products, which are frequently less expensive.
• Buy non-perishable items in bulk to avoid travel costs and accessibility when needed.
• Avoid purchasing snackable items, rather buy nutritious food that will last long and can be prepared at least 3-4 times a month.
• To reduce food waste, use leftovers within 12 hours and make new recipes out of them. .

Other Miscellaneous Costs

Generally speaking, studying abroad is not just for students to study, but also to experience a different country and its culture. Hence, students might incur some additional expenses like entertainment, or even healthcare. Given below is an overview of the same:

Entertainment Costs

If you plan to catch a movie, or a sightseeing adventure, you the following costs will help you be prepared: 

• A ticket to the cinema is around €20. 
• Visiting an exhibition or museum in Switzerland can cost around €10. However, some museums offer open days during the week where admission is free of charge. 
• A gym subscription in Switzerland costs about €80 per month. 

The total entertainment cost will vary between €70 and €100.

Healthcare Costs In Switzerland

Budgeting and planning for healthcare is a crucial aspect of assessing the cost of living in Switzerland. The Swiss Federal Law on Health Insurance governs healthcare in Switzerland and offers universal coverage. Even though the state does not offer free healthcare, everyone living in Switzerland must have private health insurance within three months of moving here or being born.

Hospital stays and medical expenses are covered by the health insurance coverage. Nonetheless, a percentage of the treatment costs must be covered by the insured person. Included in this is an annual deductible called the franchise, which for individuals can be as little as CHF 300 or as much as CHF 2,500 (premiums are adjusted accordingly). Furthermore, there is a 10% fee for expenses that go beyond the deductible, up to a stop-loss amount of CHF 700. 

Factors Affecting Cost Of Living In Switzerland

Living in Switzerland is an unforgettable experience. They offer amazing services, high-class amenities, and so much more. The factors that have influenced the high costs of living are a strong economy, high salaries, and the standard of living. The housing costs have also increased due to excessive immigration in recent years. Switzerland is also a tourist destination. Needless to say, tourist destinations are majorly costly by default! You should be considering these things while planning to settle down in this city. 

Is Switzerland Expensive For The Students?

Yes, Switzerland is a bit expensive for the students taking into account the accommodations, and other accessibility costs. But you can always take support from financial institutions or scholarships to back up your expenses and to live at ease.

Scholarships In Switzerland For Indian Students

There are many scholarships offered by the Indian Government and the external organisations in Switzerland to the Indian students studying in Switzerland and other nations or cities. Let’s look at the most significant once given in the table below: 

Financial Aid For Students Studying In Switzerland

Solely relying on scholarships can be risky, as they are highly competitive. Hence you must have a strong financial backup of student loans. UniCreds has partnered with the top banks in India as well as NBFCs to give you the best abroad education loans at lower processing fees. Here is an overview of the top financial institutions who have partnered with UniCreds and the interest and loan amount you can expect:

How To Save Money As A Student In Switzerland?

1. Create a Detailed Budget: Develop an end-to-end budget that specifies your income and expenses. Categorise your expenses to have a clear overview of where your money goes.
2. Track Your Spending: To identify your daily expenses, keep track of them in a diary, or any budgeting apps.
3. First priority always goes to important expenses: For this, you need to divide your needs and wants. While studying abroad, your wants must be lesser than your needs. Only then you’ll be able to save more. 
4. Reduce Dining Out: Dining out on a regular basis has two disadvantages. One disadvantage is that you become addicted to dining out. This means bad eating habits, and the second disadvantage is that you spend a lot of money when you can eat two meals of home-cooked food!
5. Use public transport: Compared to private transport, which comes with maintenance costs, public transport is better. Also, using low-maintenance transports like bi-cycles can help you stay fit, plus reduce fuel and maintenance costs!
6. Adapt Sustainable Living: Save electricity and water supply by turning them off when not in need. 
7. Seek Affordable Alternatives: Look for sales, discounts, or second-hand options. Consider shopping at local markets for fresh produce at lower prices.
8. Save on Communication Expenses: Explore affordable mobile phone and internet service providers to find the most cost-effective plans.
9. Plan for Unexpected Expenses: Make an emergency fund for unexpected expenses. A safety net is always crucial, especially when you are travelling globally. 

It’s a wrap! This blog gives you an in-depth understanding of what the cost of living in Switzerland looks like and how it can be managed. With proper financial planning and funds, one can stay in Switzerland to pursue their dreams at ease!

FAQs

Q1. Is it expensive to live in Switzerland?

Ans: Yes, Switzerland is well-known for its high living costs.

Q2. How much money does a student need in Switzerland?

Ans: The amount of money required by a student in Switzerland varies, but a monthly budget of € 1,000 to € 2,000 or more is recommended.

Q3. What are the fees for Indian students in Switzerland?

Ans: Private educational schools in Switzerland frequently charge higher tuition costs, which might exceed 43,000 EUR, i.e. 38,69,716 INR per year in some cases, depending on the institution.

Q4. How much can international students earn in Switzerland?

Ans: In Switzerland, an international student can earn between 2,200-2,800 CHF per month, which equates to approximately 180,000-225,000 INR for Indian students.

Q5. Is Switzerland more costly than India?

Ans: Yes, Switzerland is often thought to be more expensive than India in terms of overall living costs.

Thank you for reading about the “Cost of Living in Switzerland.” We hope you found the information helpful in understanding the expenses associated with living in Switzerland. If you’re interested in exploring more articles on related topics, we recommend checking out the below articles:

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