As the curtain falls on the 2024 Paris Olympics, athletes who have secured medals will receive more than just their gold, silver, or bronze awards.
Although the International Olympic Committee (IOC) does not provide monetary rewards, many countries offer substantial financial bonuses and unique gifts to their medalists.
The United States topped the medal chart with 126 medals, followed by China with 91, and Great Britain with 65.
According to the Economic Times, here are the countries that offered the highest financial rewards to their medal-winning athletes at the 2024 Olympics:
Hong Kong
After the 2020 Tokyo Olympics, Hong Kong boosted its prize money for medalists by 20%. Gold medalists now receive 6 million Hong Kong dollars (approximately $768,000), while silver and bronze medalists earn HK$3 million and HK$1.5 million, respectively. With four medals in total (two in swimming and two in fencing), Hong Kong will distribute $1.9 million among its winning athletes.
Singapore
Singapore ranks second, awarding 1 million Singapore dollars ($745,300) to gold medalists, SG$500,000 ($373,000) to silver medalists, and SG$250,000 ($186,000) to bronze medalists. The nation will pay $186,000 to its sole medalist, who secured a silver in sailing.
Indonesia
Indonesia is another top Asian nation in terms of rewards, offering $300,000 for gold, $150,000 for silver, and $60,000 for bronze. The country earned three medals: gold in sports climbing and weightlifting, and a bronze in badminton.
Israel
Despite controversies and calls for sanctions, Israel emerged with seven medals. The country rewards its gold medalists with $271,000, silver medalists with $216,000, and bronze medalists with $135,000.
Kazakhstan
Kazakhstan offers its medalists $250,000 for gold, $150,000 for silver, and $75,000 for bronze. The nation won seven medals across various sports, including gold in judo and multiple silvers and bronzes in artistic gymnastics, boxing, wrestling, and shooting. Medalists also receive free apartments in addition to their cash rewards.
Malaysia
The Malaysian National Sports Council provides 1 million ringgit ($216,000) to individual gold medalists, with silver and bronze winners receiving 300,000 ringgit ($65,000) and 100,000 ringgit ($22,000), respectively. Additionally, all Malaysian athletes who achieve a podium finish will receive a “foreign-made car,” according to Malaysia’s youth and sports minister, Hannah Yeoh.
Spain
Spain secured 18 medals at the Paris Olympics, including a historic gold in men’s football. The country rewards its gold medalists with $102,000, silver medalists with $52,000, and bronze medalists with $33,000.
France
As the host nation, France achieved an impressive 64 medals (16 gold, 26 silver, and 22 bronze). French gold medalists receive $87,000, while silver and bronze winners earn $43,000 and $22,000, respectively.
South Korea
South Korea, with 32 medals, offers 63 million Korean won ($45,000) to gold medalists, 35 million won ($25,000) to silver medalists, and 25 million won ($15,000) to bronze medalists. In addition, athletes can choose between a lifelong monthly pension of 1 million won or a lump sum payment of 67.2 million won.
United States
For the eighth consecutive Olympics, starting from Atlanta 1996, the United States led the medal count with 126 medals (40 gold, 44 silver, and 42 bronze). U.S. gold medalists are awarded $38,000, silver medalists $23,000, and bronze medalists $15,000.
According to Forbes, Italy stands out globally for offering the highest total payouts to its athletes, amounting to $10.7 million for 40 medalists.
France follows with $9.4 million for 64 medals, and the United States ranks third with $8.3 million for 126 medals. Other countries in the top 10 include Hungary, Hong Kong, Ukraine, Israel, the Netherlands, Poland, and New Zealand.
