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, 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)

IOC memberGoldSilverBronzeNoteRef.
Flag of Australia (converted).svg  Australia $20,000$18,000$10,000 [1]
Flag of Austria.svg  Austria $21,986$15,3902021: 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]
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. [7]
Flag of Belgium (civil).svg  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]
Flag of Brazil.svg  Brazil $49,000$29,000$20,000 [1]
Flag of Bulgaria.svg  Bulgaria $139,719$111,775$83,881250 000 Bulgarian Lev for gold, 200 000 Bulgarian Lev for silver, and 150 000 Bulgarian Lev for bronze.[ citation needed ]
Flag of Canada (Pantone).svg  Canada $14,572$10,929$7,286In 2024 $5000 "top-up" was donated for every medal won. [9]
Flag of Costa Rica.svg  Costa Rica $16,000$12,000$8,000[ citation needed ]
Flag of the Czech Republic.svg  Czech Republic $100,000$80,000$50,000[ citation needed ]
Flag of Denmark.svg  Denmark $15,962$11,971$7,981 [1]
Flag of Ecuador.svg  Ecuador $150,000$125,000$100,000Before August 1, 2024 values were USD 100.000 (gold), USD 80.000 (silver) y USD 60.000 (bronze)[ citation needed ]
Flag of Estonia.svg  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]
Flag of Finland.svg  Finland $59,342$35,605$23,737 [1]
Flag of Fiji.svg  Fiji $50,000$20,000$10,000 [11]
Flag of France.svg  France $86,670$43,335$21,667€80,000 / €40,000 / €20,000 [12]
Flag of Georgia.svg  Georgia $318,000$159,000$79,500GEL1,000,000, GEL500,000 and GEL250,000 for gold, silver and bronze, respectively. [13]
Flag of Germany.svg  Germany $22,000$17,000$11,000 [14]
Flag of the United Kingdom.svg  Great Britain $0$0$0Annual stipend of $36,000 to each athlete. [14]
Flag of Greece.svg  Greece $100,000$55,000$44,00090.000€ Gold, 50.000€ Silver, 40.000€ Bronze. [15]
Flag of Hong Kong.svg  Hong Kong $769,558$384,279$192,139HK$6,000,000, HK$3,000,000 and HK$1,500,000, for gold, silver and bronze, respectively. [16]
Flag of Hungary.svg  Hungary $150,000$106,000$84,000HUF55,000,000, HUF39,000,000 and HUF31,000,000, for gold, silver and bronze, respectively. [17]
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. [18]
Flag of Iran.svg  Iran $295,000$131,000$66,000Gold: 18 billion Toman, Silver: 8 billion Toman, Bronze: 4 billion Toman. [19]
Flag of Israel.svg  Israel $263,000$197,000$132,000Gold: 1,000,000 NIS ,Silver: 750,000 NIS , Bronze: 500,000 as for Paris 2024 Olympics[ citation needed ] [20]
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 [21]
Flag of Kosovo.svg  Kosovo $118,683$71,210$47,473 [1]
Flag of Kyrgyzstan (2023).svg  Kyrgyzstan $117,000$117,000$82,000 [22]
[1]
Flag of Liechtenstein.svg  Liechtenstein $27,602$22,082$16,561 [1]
Flag of Lithuania.svg  Lithuania $183,005$91,533$68,664 [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.[ citation needed ]
Flag of Mexico.svg  Mexico $169,212$112,808$56,404 [1]
Flag of Morocco.svg  Morocco $225,067$140,667$84,400 [1]
Flag of the Netherlands.svg  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 ]
Flag of New Zealand.svg  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. [23] [24] [25]
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. [18] [26]
Flag of Poland.svg  Poland $51,572$37,389$27,075For 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.
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. [27] [28] [29]
Flag of Serbia.svg  Serbia $100,000$80,000$60,000 [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. [30]
Flag of Slovakia.svg  Slovakia $59,342$47,473$35,605Athletes 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. [31]
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$21,733Male medal winners become exempt from military conscription. For Gold Medalists, a monthly payment of 1000000 Won ($727 USD) for the rest of life. [32]
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 Chinese Taipei for Olympic games.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. [33] [34]
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. [35] [36]
Flag of Turkey.svg  Turkey $531,638$313,258$157,6161000 Turkish Lira worth of Republic Gold for gold, 600 for silver, and 300 for bronze. [37]
Flag of Ukraine.svg  Ukraine $125,000$100,000$80,000Additionally, a lifetime stipend is provided to all medalists. [38] [39]
Flag of Uzbekistan.svg  Uzbekistan $200,000$100,000$50,000 [40]

|- *(Taiwan)

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. [41] The layout programme's name was changed to Major Games Award Programme (MAP) in 2018. [42]

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. [43]

The money, however, is taxable and the medal winner is obligated to share half of the prize money to 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). [44] [45] [46]

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. [44]

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References

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  4. 1 2 3 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.
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  10. ↑ "Fencers to receive €200,000 in prize money from Estonian Olympic Committee". ERR News. Eesti Rahvusringhääling. 28 July 2021. Retrieved 3 August 2021.
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  12. ↑
    Capital: [[{{{1}}}]]
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  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 cn). 2024-07-19. Retrieved 2024-07-28.{{cite web}}: CS1 maint: unrecognized language (link)
  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. 1 2 "ASEAN nations offer huge rewards to Olympic medalists". Nikkei Asia. Retrieved 2021-08-07.
  19. ↑ "The 18-billion reward for the Paris Olympics gold medalists".{{cite web}}: CS1 maint: url-status (link)
  20. ↑ https://www.mako.co.il/news-money/2024_q3/Article-51632454b4d1191027.htm [ bare URL ]
  21. ↑ "Kazakhstan to give prize money to athletes winning in Olympics". www.aa.com.tr. Retrieved 2021-08-08.
  22. ↑ "Kyrgyz president highly praises Kyrgyz Olympians at Paris 2024". www.china.org.cn. Retrieved 2024-08-13.
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  28. ↑ Какие вознаграждения получали отечественные призеры Олимпийских игр. Досье
  29. ↑ Не хватает машин? Давайте дарить олимпийцам квартиры! В Госдуме придумали, как утешить спортсменов, и сами ужаснулись
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  34. ↑ Liao, George (1 August 2021). "Foxconn founder suggests Taiwan shower Olympic athletes with cash". Taiwan News. Retrieved 3 August 2021.
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  38. ↑ "У НОК назвали суми призових для українських спортсменів за медалі на Олімпіаді-2024: скільки виплатять призерам" (in ua). Retrieved 2024-08-19.{{cite web}}: CS1 maint: unrecognized language (link)
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  40. ↑ "Parij-2024 Olimpiya va Paralimpiya o'yinlari g'olibiga $200 ming mukofot puli beriladi" (in Uzbek). Retrieved 2024-08-08.
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  42. ↑ Chia Han Keong (13 November 2018). "Singapore medallists' reward scheme renamed Major Games Award Programme". Yahoo! Singapore. Retrieved 3 August 2021.
  43. ↑ "Olympic Heroes Honoured At The London 2012 Olympic Games Awards And Appreciation Dinner". Sport Singapore. Retrieved 3 August 2021.
  44. 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.
  45. ↑ Baldonado, Kevin (2 August 2021). "Hidilyn won't be taxed; What about other athletes?". Philippine Daily Inquirer. Retrieved 3 August 2021.
  46. ↑ "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.

Kenya Gold medal ksh 3,000,000 Silver medal ksh 2,000,000 Bronze medal ksh 1,000,000 And bonus of USD 50,000 to the winners of Gold Medalists.

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