The annual total financial impact of Corvinus University of Budapest on the local economy has been estimated to be over 170 billion Hungarian forints by the Business School Impact System (BSIS), the leading international network for business education impact assessment, according to a statement by the university released on Tuesday to MTI.
The BSIS Certification
The statement said that Corvinus University is the only institution in Hungary to have been awarded the international BSIS certification for its contribution to local and regional socio-economic development. The impact of educational institutions is analysed in seven areas: financial, educational, business development, intellectual, social, as well as the impact on the region’s image and the school’s regional ecosystem, the statement added.
Currently, 62 institutions in 19 countries have the BSIS certification, including the Swiss University of St Gall and the Rotterdam School of Management at Erasmus University in the Netherlands. Budapest Corvinus University was one of the first institutions to participate in the process, and after receiving the certification in 2014 and 2018, it has once again been awarded the certification this year, the statement said.
‘It is a pride for me to see our results in such a comprehensive and structured way. The BSIS report stated that the employment opportunities for graduates of Corvinus University are excellent due to the institution’s recognition and leading position in Hungary. The document also highlighted that a large proportion of top executives in Hungarian listed companies are graduates of the university, demonstrating the university’s essential role in the country’s economic life,’ President of Corvinus University of Budapest Anthony Radev commented on the successful certification.
The BSIS report emphasises that the foundation-based operation of Corvinus University and its significant and stable financial background allow the university to plan for the long term and implement its strategy. The statement also noted that the BSIS system, established in 2013, is operated by the European Foundation for Management Development (EFMD), the internationally recognized accreditation body for business schools, with the cooperation of the French Foundation for Management Education (FNEGE).
Corvinus University of Budapest
Corvinus University of Budapest is a leading public research university located in Budapest, Hungary. As an independent institution, it was founded in 1948 as the Hungarian University of Economics, and changed its name to Corvinus University of Budapest in 2004. The university has a strong reputation for its programmes in economics, business, and social sciences and is considered one of the top universities in Hungary.
Corvinus is known for its research excellence and has numerous research centres and institutes, including the Institute of World Economy, the Institute of Sociology, and the Institute of Philosophy. It has also established partnerships with other prestigious universities around the world, including the London School of Economics, the University of California, Berkeley, and the Erasmus University Rotterdam.
Corvinus University of Budapest offers a wide range of undergraduate and graduate programs, including programs in economics, business administration, social sciences, political science, international relations, and public policy. The university is committed to providing students with a high-quality education and emphasises the importance of research, critical thinking, and problem-solving skills.