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.

Contents

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, New Zealand, 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]

Incentives by Country (USD equivalent in 2021)

CountriesGoldSilverBronzeNote
Flag of Australia (converted).svg  Australia $15,000$11,000$7,000 [1]
Flag of Austria.svg  Austria $18,296$14,000$11,838As 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. [5]
Flag of Azerbaijan.svg  Azerbaijan $235,000$117,500$58,750AZN 400,000, AZN 200,000 and AZN 100,000, for gold, silver and bronze, respectively, as of the 2016 Rio Olympics. [6]
Flag of Brazil.svg  Brazil $49,000$29,000$20,000 [1]
Flag of Bulgaria.svg  Bulgaria $91,008$72,806$54,605 [1]
Flag of Canada (Pantone).svg  Canada $16,000$12,000$8,000CAD $20,000, CAD $15,000 and CAD $10,000, for gold, silver and bronze, respectively. [7] [8]
Flag of Denmark.svg  Denmark $15,962$11,971$7,981 [1]
Flag of Estonia.svg  Estonia $117,500$82,250$52,875€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. [9]
Flag of Finland.svg  Finland $59,342$35,605$23,737 [1]
Flag of France.svg  France $86,670$43,335$21,667€80,000 / €40,000 / €20,000 [10]
Flag of Germany.svg  Germany $22,000$17,000$11,000 [11]
Flag of the United Kingdom.svg  Great Britain $0$0$0Annual stipend of $36,000 to each athlete. [11]
Flag of Hong Kong.svg  Hong Kong $642,500$321,250$160,625HK$5,000,000, HK$2,500,000 and HK$1,250,000, for gold, silver and bronze, respectively. [12]
Flag of Hungary.svg  Hungary $168,000$126,000$96,000[ citation needed ]
Flag of Indonesia.svg  Indonesia $346,000$138,500$69,250Rp 5 billion, Rp 2 billion and Rp 1 billion, for gold, silver and bronze, respectively. [13]
Flag of Italy.svg  Italy $213,000$107,000$71,000 [1]
Flag of Japan.svg  Japan $45,000$18,000$9,000 [1]
Flag of Kazakhstan.svg  Kazakhstan $250,000$150,000$75,000 [14]
Flag of Kosovo.svg  Kosovo $118,683$71,210$47,473 [1]
Flag of Liechtenstein.svg  Liechtenstein $27,602$22,082$16,561 [1]
Flag of Lithuania.svg  Lithuania $144,793$72,397$54,238 [1]
Flag of Malaysia.svg  Malaysia $236,000$71,000$24,000Additional lifetime monthly salary of 5,000, 3,000 and 2,000 ringgit, for gold, silver and bronze, respectively.
Flag of Morocco.svg  Morocco $225,067$140,667$84,400 [1]
Flag of New Zealand.svg  New Zealand $0$0$0 [4]
Flag of Norway.svg  Norway $0$0$0 [4]
Flag of the Philippines.svg  Philippines $200,000$100,000$40,000₱10,000,000, ₱5,000,000 and ₱2,000,000, for gold, silver and bronze, respectively. [13] [15]
Flag of Russia.svg  Russia $61,000$38,000$26,000Medal 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. [16] [17] [18]
Flag of Serbia.svg  Serbia $71,210$59,342$47,473 [1]
Flag of Singapore.svg  Singapore $737,000$369,000$184,000S$1,000,000, S$500,000 and S$250,000, for gold, silver and bronze, respectively. [19]
Flag of Slovakia.svg  Slovakia $59,342$47,473$35,605 [1]
Flag of Slovenia.svg  Slovenia $23,737$20,770$17,802 [1]
Flag of South Africa.svg  South Africa $37,000$19,000$7,000[ citation needed ]
Flag of South Korea.svg  South Korea $54,767$30,426$21,733 [1]
Flag of Spain.svg  Spain $111,562$56,968$35,605 [1]
Flag of Sweden.svg  Sweden $0$0$0 [4]
Flag of Switzerland (Pantone).svg   Switzerland $44,171$33,129$22,086 [1]
Flag of the Republic of China.svg Chinese Taipei $720,000$251,000$178,000NT$20,000,000, NT$7,000,000 and NT$5,000,000, for gold, silver and bronze, respectively. [20] [21]
Flag of Thailand.svg  Thailand $365,150$219,090$146,060THB12,000,000, THB7,200,000 and THB4,800,000, for gold, silver and bronze, respectively. [22] [23]
Flag of the United States.svg  United States $37,500$22,500$15,000As of the 2024 Summer Olympics. Unlike other countries, the United States does not provide any funding for its elite sports nor for the United States Olympic & Paralympic Committee. [24] [25]

Per country

Singapore

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. [26] The programme's name was changed to Major Games Award Programme (MAP) in 2018. [27]

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. [28]

The money, however, is taxable and the medal winner is obligated to make a donation back into the sport they are representing.

MedalStandard reward
Gold medal icon.svg GoldS$1,000,000
Silver medal icon.svg SilverS$500,000
Bronze medal icon.svg BronzeS$250,000

Philippines

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). [29] [30] [31]

MedalStandard reward
Gold medal icon.svg Gold₱10 million
Silver medal icon.svg Silver₱5 million
Bronze medal icon.svg 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. [29]

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References

  1. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 "Money for medals: Olympic glory can also be very lucrative for athletes from these countries". USA Today . 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. 1 2 3 4 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. ↑ General, Ryan (2016-08-10). "Here's How Much Money Olympic Gold Medalists Win in Each Country". NextShark. Retrieved 2021-08-08.
  7. ↑ "How much money a Canadian Olympian earns versus the rest of the world | Offside". dailyhive.com. Retrieved 2021-08-07.
  8. ↑ "Canadian Olympic Committee Athlete Excellence Fund (AEF)". Team Canada - Official Olympic Team Website. Retrieved 2021-08-07.
  9. ↑ "Fencers to receive €200,000 in prize money from Estonian Olympic Committee". ERR News. Eesti Rahvusringhääling. 28 July 2021. Retrieved 3 August 2021.
  10. ↑
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  11. 1 2 "How Much Do Olympic Athletes Earn?". Money Under 30. Retrieved 2021-08-07.
  12. ↑ "Hong Kong athletes chasing HK$5 million cash carrot for winning gold". South China Morning Post. 2021-07-08. Retrieved 2021-08-07.
  13. 1 2 "ASEAN nations offer huge rewards to Olympic medalists". Nikkei Asia. Retrieved 2021-08-07.
  14. ↑ "Kazakhstan to give prize money to athletes winning in Olympics". www.aa.com.tr. Retrieved 2021-08-08.
  15. ↑ "Duterte adds P100,000 to Filipino Tokyo Olympians' game allowance". Rappler. 23 July 2021. Retrieved 2021-08-07.
  16. ↑ "Here's how much athletes around the world earn for Olympic victory". JOE.co.uk. Retrieved 2021-08-08.
  17. ↑ Какие вознаграждения получали отечественные призеры Олимпийских игр. Досье
  18. ↑ Не хватает машин? Давайте дарить олимпийцам квартиры! В Госдуме придумали, как утешить спортсменов, и сами ужаснулись
  19. ↑ "Major Game Award Programme" (PDF). SNOC. Archived (PDF) from the original on 29 November 2018.
  20. ↑ Liao, George (1 August 2021). "Foxconn founder suggests Taiwan shower Olympic athletes with cash". Taiwan News. Retrieved 3 August 2021.
  21. ↑ Knight, Brett. "These 10 Countries Offer Six-Figure Payouts To Their Olympic Medalists". Forbes. Retrieved 2021-08-07.
  22. ↑ "How much is an Olympic medal worth?". nationthailand. 2021-07-29. Retrieved 2021-08-07.
  23. ↑ "Thai stars kick off quest for Games glory". Bangkok Post. Retrieved 2021-08-08.
  24. ↑ USOPC OPERATION GOLD PAYOUTS REMAIN THE SAME FOR 2022-2024
  25. ↑ U.S. Olympic Sports Groups Seek Government Aid
  26. ↑ "Major Games Award Programme". Singapore National Olympic Council. Retrieved 3 August 2021.
  27. ↑ Chia Han Keong (13 November 2018). "Singapore medallists' reward scheme renamed Major Games Award Programme". Yahoo! Singapore. Retrieved 3 August 2021.
  28. ↑ "Olympic Heroes Honoured At The London 2012 Olympic Games Awards And Appreciation Dinner". Sport Singapore. Retrieved 3 August 2021.
  29. 1 2 Tuquero, Loreben (27 July 2021). "Why is government giving Hidilyn Diaz P10 million? We have a law for that". Rappler. Retrieved 3 August 2021.
  30. ↑ Baldonado, Kevin (2 August 2021). "Hidilyn won't be taxed; What about other athletes?". Philippine Daily Inquirer. Retrieved 3 August 2021.
  31. ↑ "BIR answers tax issues on Hidilyn Diaz's Olympic winnings". CNN Philippines. 29 July 2021. Archived from the original on 3 August 2021. Retrieved 3 August 2021.
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