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Incentives for Olympic medalists by country

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This article details standard incentives given to Olympic athletes for winning a medal either by their National Olympic Committee, the government of their country/territory, or both.

While the International Olympic Committee itself does not provide monetary rewards to Olympic medalists, many countries provide prize money to athletes for winning a medal at the Olympics.[1][2] In countries such as Singapore and India elite sport enjoys heavy government involvement, and athletes are given high monetary rewards for winning Olympic medals as a means to promote a positive image of those nations on the international stage.[3]

According to Forbes, only Great Britain, Norway and Sweden do not provide direct monetary incentives to their athletes for winning an Olympic medal (as of the 2020 Summer Olympics), although indirect funding is extensive.[4]

Incentive list (USD equivalent in 2021)

[edit]
IOC member Gold Silver Bronze Note Ref.
 Australia $20,000 $18,000 $10,000 [1]
 Austria $21,986 $15,390 2021: As a reward for their achievements, the gold medal winners receive Philharmonic coins worth €17,000. Silver medalists received €13,000, bronze medalists received €11,000 each.

2024: As a reward for their achievements, the gold medal winners receive Philharmonic coins worth €20,000. Bronze medalists received €14,000 each.

[5][6]
 Azerbaijan $235,000 $117,500 $58,750 AZN 400,000, AZN 200,000 and AZN 100,000, for gold, silver and bronze, respectively, as of the 2016 Rio Olympics. [7]
 Belgium $54,606 $32,764 $21,843 €50,000, €30,000, €20,000, for gold, silver and bronze, respectively, as of the 2024 Paris Olympics. [8]
 Brazil $49,000 $29,000 $20,000 [1]
 Bulgaria $139,719 $111,775 $83,881 250 000 Bulgarian Lev for gold, 200 000 Bulgarian Lev for silver, and 150 000 Bulgarian Lev for bronze. [citation needed]
 Canada $14,572 $10,929 $7,286 In 2024 $5000 "top-up" was donated for every medal won. [9]
 Costa Rica $16,000 $12,000 $8,000 [citation needed]
 Czech Republic $100,000 $80,000 $50,000 [citation needed]
 Denmark $15,962 $11,971 $7,981 [1]
 Ecuador $150,000 $125,000 $100,000 Before August 1, 2024 values were USD 100.000 (gold), USD 80.000 (silver) y USD 60.000 (bronze) [citation needed]
 Estonia $117,500 $82,250 $52,000 €100,000, €70,000 and €45,000, for gold, silver and bronze, respectively. Prize money is doubled in the case a medal is won by a team of four or more individuals. [10]
 Finland $59,342 $35,605 $23,737 [1]
 Fiji $50,000 $20,000 $10,000 [11]
 France $86,670 $43,335 $21,667 €80,000 / €40,000 / €20,000 [12]
 Georgia $318,000 $159,000 $79,500 GEL1,000,000, GEL500,000 and GEL250,000 for gold, silver and bronze, respectively. [13]
 Germany $22,000 $17,000 $11,000 [14]
 Great Britain $0 $0 $0 Annual stipend of $36,000 to each athlete. [14]
 Greece $100,000 $55,000 $44,000 90.000€ Gold, 50.000€ Silver, 40.000€ Bronze. [15]
 Hong Kong $769,558 $384,279 $192,139 HK$6,000,000, HK$3,000,000 and HK$1,500,000, for gold, silver and bronze, respectively. [16]
 Hungary $150,000 $106,000 $84,000 HUF55,000,000, HUF39,000,000 and HUF31,000,000, for gold, silver and bronze, respectively. [17]
 Indonesia $346,000 $138,500 $69,250 Rp 5 billion, Rp 2 billion and Rp 1 billion, for gold, silver and bronze, respectively. [18]
 Iran $295,000 $131,000 $66,000 Gold: 18 billion Toman, Silver: 8 billion Toman, Bronze: 4 billion Toman. [19]
 Israel $263,000 $197,000 $132,000 Gold: 1,000,000 NIS, Silver: 750,000 NIS, Bronze: 500,000 as for Paris 2024 Olympics [citation needed][20]
 Italy $213,000 $107,000 $71,000 [1]
 Japan $45,000 $18,000 $9,000 [1]
 Kazakhstan $250,000 $150,000 $75,000 [21]
 Kosovo $118,683 $71,210 $47,473 [1]
 Kyrgyzstan $117,000 $117,000 $82,000 [22]
 Liechtenstein $27,602 $22,082 $16,561 [1]
 Lithuania $183,005 $91,533 $68,664 [1]
 Malaysia $236,000 $71,000 $24,000 Additional lifetime monthly salary of 5,000, 3,000 and 2,000 ringgit, for gold, silver and bronze, respectively. [citation needed]
 Mexico $169,212 $112,808 $56,404 [1]
 Mongolia $35,280 $17,640 $8,820 ₮120,000,000, ₮60,000,000 and ₮30,000,000 for gold, silver and bronze, respectively. Additional monthly payment of ₮4,000,000 ($1,176), ₮3,000,000 ($882) and ₮2,000,000 ($588) for gold, silver and bronze, respectively for the rest of life. [23]
 Morocco $225,067 $140,667 $84,400 [1]
 Netherlands $32,614 $24,460 $16,307 €30,000 for gold, €22,500 for silver and €15,000 for bronze in the individual sports. For team sports, a minimum of €11,000 for gold, €8,000 for silver and €5,000 for bronze, all dependent on the number of team members. [citation needed]
 New Zealand $36,118 $33,100 $33,100 High Performance New Zealand grants $60,000 NZD to gold medallists and $55,000 NZD to silver and bronze medallists. [24][25][26]
 Norway $0 $0 $0 [4]
 Philippines $200,000 $100,000 $40,000 ₱10,000,000, ₱5,000,000 and ₱2,000,000, for gold, silver and bronze, respectively. [18][27]
 Poland $51,572 $37,389 $27,075 For Gold and Silver Medalists an apartament in Capital of Poland. For any medalist, a monthly payment after reaching 40th birthday of $1,083 for the rest of life.
 Russia $61,000 $38,000 $26,000 Medal winners have historically been gifted expensive premium cars valued at $50,000 to $200,000 USD and luxury apartments valued at $500,000 to $1,000,000 in addition to separate payouts from national federations and regional governments. That tradition stretches back to the Soviet era. [28][29][30]
 Romania $145,800 $116,600 $87,500 The prizes for gold, silver, and bronze are €140,000, €112,000, and €84,000, respectively, while the 4th, 5th, and 6th place winners receive €56,000, €42,000, and €28,000, respectively. In addition, Olympic medalists are entitled to a lifetime monthly payment, calculated as up to 1.5 times the gross average salary after retirement[31] [32]
 Serbia $100,000 $80,000 $60,000 [1]
 Singapore $737,000 $369,000 $184,000 S$1,000,000, S$500,000 and S$250,000, for gold, silver and bronze, respectively. [33]
 Slovakia $59,342 $47,473 $35,605 Athletes also get rewards for placings up to 8th place: €20,000, €15,000, €10,000, €8,000, and €6,000. For team sports, individual athletes get rewards up to 6th place: €15,000 (gold), €13,000 (silver), €11,000 (bronze), €9,000, €6,000, and €4,000 per athlete. [34]
 Slovenia $23,737 $20,770 $17,802 [1]
 South Africa $37,000 $19,000 $7,000 [citation needed]
 South Korea $54,767 $30,426 $21,733 Male medal winners become exempt from military conscription. For Gold Medalists, a monthly payment of 1000000 Won ($727 USD) for the rest of life. [35]
 Spain $111,562 $56,968 $35,605 [1]
 Sweden $0 $0 $0 [4]
  Switzerland $44,171 $33,129 $22,086 [1]
Chinese Taipei Chinese Taipei* $720,000 $251,000 $178,000 NT$20,000,000, NT$7,000,000 and NT$5,000,000, for gold, silver and bronze, respectively. [36][37]
 Thailand $365,150 $219,090 $146,060 THB12,000,000, THB7,200,000 and THB4,800,000, for gold, silver and bronze, respectively. [38][39]
 Turkey $531,638 $313,258 $157,616 1000 Turkish Lira worth of Republic Gold for gold, 600 for silver, and 300 for bronze. [40]
 Ukraine $125,000 $100,000 $80,000 Additionally, a lifetime stipend is provided to all medalists. [41][42]
 Uzbekistan $200,000 $100,000 $50,000 [43]

|- * (Taiwan)

Per country

[edit]

Singapore

[edit]

In the 1990s, the Singapore National Olympic Council (SNOC) under President Yeo Ning Hong instituted the Multi-Million Dollar Award Programme (MAP), an incentive scheme to reward athletes who win medals in major international tournaments, including the Olympics, for Singapore.[44] The layout programme's name was changed to Major Games Award Programme (MAP) in 2018.[45]

The largest prize money under the MAP is for athletes who clinch an Olympic gold medal. Those athletes who win multiple Olympic gold medals are entitled to more than S$1 million only for the first individual gold medal won at the Games.[46]

The money, however, is taxable and the medal winner is obligated to share half of the prize money to the sport they are representing.

Medal Standard reward
 Gold S$1,000,000
 Silver S$500,000
 Bronze S$250,000

Philippines

[edit]

Coaches of Filipino citizenship who personally trained medal-winning Filipino Olympians are also entitled to prize money (50% of the cash incentives for gold, silver and bronze medalists).[47][48][49]

Medal Standard reward
 Gold ₱10 million
 Silver ₱5 million
 Bronze ₱2 million

Prior to the RA 10699, standard government incentives were codified under the RA 9064 or the National Athletes, Coaches and Trainers Benefits and Incentives Act of 2001, which mandates a prize money of ₱5 million for Olympic gold medalists, ₱2.5 million for silver medalists and ₱1 million for bronze medalists.[47]

References

[edit]
  1. ^ a b c d e f g h i j k l m n o p "Money for medals: Olympic glory can also be very lucrative for athletes from these countries". USA Today. 4 August 2021. Archived from the original on 2024-08-04. Retrieved August 4, 2021.
  2. ^ "Cashing in on gold". South China Morning Post. August 12, 2021.
  3. ^ Choudhury, Saheli Roy (29 July 2021). "Here's how much Olympic athletes earn for winning medals". CNBC. Retrieved 3 August 2021.
  4. ^ a b c Knight, Brett (31 July 2021). "These 10 Countries Offer Six-Figure Payouts To Their Olympic Medalists". Forbes. Retrieved 3 August 2021.
  5. ^ "Sieben Medaillen | Tokio-Medaillengewinner von Bundespräsident geehrt". www.kleinezeitung.at (in German). 2021-08-10. Retrieved 2023-12-10.
  6. ^ Comité, Österreichisches Olympisches. "Glänzende Feier mit Philharmoniker-Prämie". Österreichisches Olympisches Comité (in German). Retrieved 2024-08-13.
  7. ^ General, Ryan (2016-08-10). "Here's How Much Money Olympic Gold Medalists Win in Each Country". NextShark. Retrieved 2021-08-08.
  8. ^ "Primes: Jeux Olympiques Paris 2024". Team Belgium - Official Olympic Team Website (in French). Retrieved 2024-07-30.
  9. ^ "Canada caps Olympic Games with record medal haul - National | Globalnews.ca". Global News. Retrieved 2024-08-13.
  10. ^ "Fencers to receive €200,000 in prize money from Estonian Olympic Committee". ERR News. Eesti Rahvusringhääling. 28 July 2021. Retrieved 3 August 2021.
  11. ^ "Cash Incentives For Olympic Medal Winners".
  12. ^
    Capital: [[{{{1}}}]]
  13. ^ "პატრიოტიზმი და ფინანსები – თანამედროვე ოლიმპიური თამაშების ქვაკუთხედი". aaf (in Georgian). 2021.
  14. ^ a b "How Much Do Olympic Athletes Earn?". Money Under 30. Retrieved 2021-08-07.
  15. ^ "Αυτό είναι το ποσό που θα λάβει ο Μίλτος Τεντόγλου για την κατάκτηση του χρυσού μεταλλίου". www.sport24.gr (in Greek). Retrieved 2024-08-13.
  16. ^ "Hong Kong athletes chasing HK$5 million cash carrot for winning gold". HK01 (in Chinese). 2024-07-19. Retrieved 2024-07-28.
  17. ^ "Elképesztő összegekkel tömi ki a magyar állam az olimpikonok zsebét: többé már dolgozniuk sem kell?". Pénzcentrum.hu (in Hungarian). 2024-07-30. Retrieved 2024-07-29.
  18. ^ a b "ASEAN nations offer huge rewards to Olympic medalists". Nikkei Asia. Retrieved 2021-08-07.
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  20. ^ https://www.mako.co.il/news-money/2024_q3/Article-51632454b4d1191027.htm [bare URL]
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  23. ^ "Олон Улсын Олимпын Хорооны ивээл доор зохион байгуулагддаг Тив, Дэлхийн Наадам болон Дэлхийн Аварга Шалгаруулах Тэмцээнд амжилттай оролцож медаль хүртсэн тамирчин, түүний дасгалжуулагчийг шагнаж урамшуулах, мөнгөн шагнал олгох журам" (in Mongolian). 2018-06-13. Retrieved 2024-09-26.
  24. ^ "Francesca Rudkin: Let's pay all Olympic gold medallists-". Newstalk ZB. 2024-05-14. Retrieved 2024-08-09.
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  26. ^ "Olympics: Big cash rewards for Kiwi medallists". The New Zealand Herald. 2012-08-10. Retrieved 2024-08-09.
  27. ^ "Duterte adds P100,000 to Filipino Tokyo Olympians' game allowance". Rappler. 23 July 2021. Retrieved 2021-08-07.
  28. ^ "Here's how much athletes around the world earn for Olympic victory". JOE.co.uk. Retrieved 2021-08-08.
  29. ^ Какие вознаграждения получали отечественные призеры Олимпийских игр. Досье
  30. ^ Не хватает машин? Давайте дарить олимпийцам квартиры! В Госдуме придумали, как утешить спортсменов, и сами ужаснулись
  31. ^ https://lege5.ro/Gratuit/gi3dmnru/protectia-sociala-a-sportivilor-de-performanta-lege-69-2000?dp=giytsmbwgi2tq. {{cite web}}: Missing or empty |title= (help)
  32. ^ https://sport.gov.ro/wp-content/uploads/2024/03/hg-1447.pdf. {{cite web}}: Missing or empty |title= (help)
  33. ^ "Major Game Award Programme" (PDF). SNOC. Archived (PDF) from the original on 29 November 2018.
  34. ^ Blaško, Branislav (2018-02-06). "Koľko peňazí môžu dostať naši športovci za olympijské zlato? Takáto finančná odmena motivuje našich športovcov v Pjongčangu". interez.sk (in Slovak). Retrieved 2024-04-11.
  35. ^ "Pensions and Benefits for Athletes". 2024-08-06. Retrieved 2024-08-06.
  36. ^ Knight, Brett. "These 10 Countries Offer Six-Figure Payouts To Their Olympic Medalists". Forbes. Retrieved 2021-08-07.
  37. ^ Liao, George (1 August 2021). "Foxconn founder suggests Taiwan shower Olympic athletes with cash". Taiwan News. Retrieved 3 August 2021.
  38. ^ "How much is an Olympic medal worth?". nationthailand. 2021-07-29. Retrieved 2021-08-07.
  39. ^ "Thai stars kick off quest for Games glory". Bangkok Post. Retrieved 2021-08-08.
  40. ^ Karabiyik, Ahmet (2021-08-10). "Olimpiyat şampiyonları nasıl ödüllendirilecek". www.hurriyet.com.tr (in Turkish). Retrieved 2024-08-01.
  41. ^ "У НОК назвали суми призових для українських спортсменів за медалі на Олімпіаді-2024: скільки виплатять призерам" (in Ukrainian). Retrieved 2024-08-19.
  42. ^ "Призначення державних стипендій чемпіонам і призерам Олімпійських, Паралімпійських та Дефлімпійських ігор" (in Ukrainian). Retrieved 2024-08-19.
  43. ^ "Parij-2024 Olimpiya va Paralimpiya o'yinlari g'olibiga $200 ming mukofot puli beriladi" (in Uzbek). Retrieved 2024-08-08.
  44. ^ [https:/ 2021 "Major Games Award Programme"]. {{cite web}}: Check |url= value (help)
  45. ^ Chia Han Keong (13 November 2018). "Singapore medallists' reward scheme renamed Major Games Award Programme". Yahoo! Singapore. Retrieved 3 August 2021.
  46. ^ "Olympic Heroes Honoured At The London 2012 Olympic Games Awards And Appreciation Dinner". Sport Singapore. Retrieved 3 August 2021.[permanent dead link‍]
  47. ^ a b Tuquero, Loreben (27 July 2021). "Why is government giving Hidilyn Diaz P10 million? We have a law for that". Rappler. Retrieved 3 August 2021.
  48. ^ Baldonado, Kevin (2 August 2021). "Hidilyn won't be taxed; What about other athletes?". Philippine Daily Inquirer. Retrieved 3 August 2021.
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