Olympics 2024: How Countries Reward Their Olympians?

(Patria) - As athletes from various countries compete in the 2024 Olympic Games, governments and sports organizations are preparing to reward them generously for their successes. A correspondent for Kazinform News Agency investigated how countries reward their Olympians and Paralympians.

Kazakhstan

Kazakhstan offers its Olympians rewards ranging from $75,000 to $250,000 for their medals, as well as apartments awarded by law. In addition, athletes are exempt from taxes on these rewards.

Malaysia, Morocco, Italy, Hungary, and Egypt

These countries also provide bonuses between $112,000 and $365,000 for Olympic medals. For example, Malaysia gives rewards of $214,000 for a gold medal, and athletes are also eligible for lifetime pensions.

Uzbekistan

In Uzbekistan, gold medal winners receive $200,000, silver medal winners $100,000, and bronze medal winners $50,000.

Serbia

Gold medal reward: $218,000

Athletes who win gold, silver, or bronze medals are entitled to a national pension starting at age 40, paid monthly.

Georgia

Georgia offers rewards ranging from $92,000 to $368,000, depending on the medal's value.

India

The Indian government offers $90,000 for a gold medal, while the Indian Olympic Committee offers an additional $120,000 for a gold medal. Silver medals bring athletes $50,000, and bronze medals $30,000.

Hong Kong

Hong Kong offers medal winners HK$6 million (approximately $770,000).

Singapore

Singapore rewards its athletes with S$1 million ($700,000) for individual sport victories and S$2 million ($1.6 million) for team sports. Silver and bronze medal winners receive 50% and 25% of these amounts, respectively.

United States

The United States offers $37,500 for a gold medal, $22,500 for a silver, and $15,000 for a bronze medal. There are additional incentives for individual sports, such as the "Living The Dream Medal Fund" which offers $250,000 for a gold medal in certain sports, while USA Swimming offers $75,000 for a gold medal in swimming.

France

France offers $125,000 for a gold medal, $100,000 for a silver, and $80,000 for a bronze medal.

Australia

Australia's Medal Incentive Funding program rewards a gold medal with $20,000, a silver with $15,000, and a bronze with $10,000.

Additional Rewards and Benefits

In addition to cash prizes, many countries offer additional benefits. For example, in Kazakhstan, Olympic medal winners are legally entitled to apartments depending on the medal's value. In Iraq, weightlifter Ali Ammar Yasir received land, a monthly scholarship, and $7,000 for participating in the 2024 Olympic Games.

This year, several international federations have announced for the first time that they will reward medal winners with cash prizes. The World Athletics Federation has established a prize of $50,000 for a gold medal in athletics. The International Boxing Association (IBA) offers higher amounts: $100,000 for a gold medal, $50,000 for a silver, and $25,000 for a bronze medal. The total prize fund for boxing competitions exceeds $3.1 million, covering over 100 athletes.

However, not all countries are inclined to financially reward athletes. For example, the United Kingdom, Norway, and Sweden do not pay their Olympic medal winners.

The Olympic Games are not only an opportunity for athletic achievements but also for significant financial rewards and recognition for the best athletes worldwide.