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What do athletes get when they win at the Olympics?

As the Tokyo 2020 Olympics draw to a close, and athletes having walked away with shiny gold, silver and bronze medals, we take a look at what they get in return for their exceptional sporting abilities.

Image by Gerhard G. from Pixabay

When athletes carry first, second and third in their area of sport, the International Olympic Committee(IOC) awards them with gold, silver and bronze medals – that’s where it stops for IOC. Any other rewards – usually monetary – are down to individual countries.

Some countries like Norway, United Kingdom and Sweden do not offer any reward, the U.K instead invest its money received from its government and National lottery on training athletes all year round.

Other countries on the other hand, decorate their winning Olympians with huge sums for example, Singapore with the highest offering gives its athletes $744,000 for gold, $372,000 for silver and $286,000 for bronze.

Malaysia not only offer rewards for medals, there is also a monthly allowances roughly $1,200, $700 or $470 according to Forbes.

While Canada’s reward is among the lowest, athletes can accumulate the reward – if they win more than one, for each one they are given prize money. It is not entirely clear if this structure applies to other countries.

South Africa and Nigeria are the only African countries to have awarded its athletes, while Far East Asia are the most generous.

CountryGold (in $) prizeSilver (in $) Prize Bronze (in $) Prize
Singapore744,000372,000 286,000
Indonesia746,000378,000188,000
Taiwan719, 577251,852179,894
Hong Kong643,000322,000161,000
Thailand365,150219,090146,060
Bangladesh300,000150,000 100,000
Kazakhstan250,000150,00075,000
Malaysia237,00071,00024,000
Italy212,400106,20070,800
Philippines 200,00099,00040,000
Hungary167,500125,60095,500
Lithuania144,79372,39754,238
Kosovo 118,628 71,000 47,473
Estonia117,62882,33952,932
India  100,83453,77833,611
France 65,000 25,000 15,000
Russia61,00038,00026,000
Columbia 54,96732,06422,902
Chile 51,000 41,000 27,500
Brazil 47,000 28,000 19,000
Japan 45,200 18,1009,045
USA 37,500 22,500 15,000
South Africa 37,000 19,000 7,000
Germany 22,000 17,000 11,000
Canada 16,000 12,000 8,000
Australia 15,100 11,400 7,600
Nigeria 15,000 10,000 7,500
Kenya 10,000 7,500 5,000
Mexico 648 (monthly) 548(monthly) 498(monthly)
U.KNothing Nothing Nothing
List of countries that offer cash reward for an Olympic medal

References: 

Forbes – These 10 Countries Offer Six-Figure Payouts To Their Olympic Medalists

Taiwan News – Foxconn founder suggests Taiwan shower Olympic athletes with cash

CNBC – Here’s how much Olympic athletes earn in 12 different countries

iGamingBrazil – How much is a medal worth to Brazilians at the Tokyo Olympics?

How Much Money do Latin American Athletes Receive for each Olympic Medal?

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