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.
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.
| Country | Gold (in $) prize | Silver (in $) Prize | Bronze (in $) Prize |
| Singapore | 744,000 | 372,000 | 286,000 |
| Indonesia | 746,000 | 378,000 | 188,000 |
| Taiwan | 719, 577 | 251,852 | 179,894 |
| Hong Kong | 643,000 | 322,000 | 161,000 |
| Thailand | 365,150 | 219,090 | 146,060 |
| Bangladesh | 300,000 | 150,000 | 100,000 |
| Kazakhstan | 250,000 | 150,000 | 75,000 |
| Malaysia | 237,000 | 71,000 | 24,000 |
| Italy | 212,400 | 106,200 | 70,800 |
| Philippines | 200,000 | 99,000 | 40,000 |
| Hungary | 167,500 | 125,600 | 95,500 |
| Lithuania | 144,793 | 72,397 | 54,238 |
| Kosovo | 118,628 | 71,000 | 47,473 |
| Estonia | 117,628 | 82,339 | 52,932 |
| India | 100,834 | 53,778 | 33,611 |
| France | 65,000 | 25,000 | 15,000 |
| Russia | 61,000 | 38,000 | 26,000 |
| Columbia | 54,967 | 32,064 | 22,902 |
| Chile | 51,000 | 41,000 | 27,500 |
| Brazil | 47,000 | 28,000 | 19,000 |
| Japan | 45,200 | 18,100 | 9,045 |
| 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.K | Nothing | Nothing | Nothing |
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?
