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The 2024 Paris Olympics are underway, with dozens of medals already handed out. Athletes from around the world are not only competing for glory and a place in history but also for substantial financial rewards. Alongside their medals, victorious athletes receive a stuffed toy of the Olympic mascot and a box containing the official event poster. However, some medalists also enjoy additional financial incentives from their home countries.
While the International Olympic Committee (IOC) does not award prize money for winning medals, various countries reward their athletes with significant medal bonuses. Here are some of the payouts based on information compiled from national Olympic committees, sports associations, and local reports.
Dominican Republic
Dominican athletes are among the most lucratively rewarded at the 2024 Paris Olympics. Francisco Camacho, the country's sports minister, announced that the winner of a gold medal will receive $252,000. Silver medalists will earn $168,000, while bronze medalists will take home just over $134,000. The Dominican Republic will invest over half a million dollars in rewards for its medal-winning athletes.
Colombia
In Colombia, the incentives for Olympic medals have been adjusted to reflect recent economic changes. The reward for a gold medal has been increased by 10% to 264 SMLMV (Monthly Legal Minimum Wages in Force), while the silver and bronze medals have seen a 5% increase, bringing their values to 147 SMLMV and 105 SMLMV, respectively.
Mexico
Mexico also offers generous bonuses to its medal-winning athletes. According to the Mexican Government's Physical Culture and Sports program for Fiscal Year 2024, the prizes are distributed as follows:
- Gold Medal: $161,783.65 (3 million Mexican pesos)
- Silver Medal: $107,826.71 (2 million Mexican pesos)
- Bronze Medal: $53,915.813 (1 million pesos Mexican pesos)
Chile
In Chile, the National Institute of Sport has outlined the financial rewards for Olympic medals:
- Gold Medal: $56,271.43 (Approximately 53 million pesos)
- Silver Medal: $38,216.299 (Approximately 36 million pesos)
- Bronze Medal: $27,600.66 (Approximately 26 million pesos)
Spain
Spain offers significant financial incentives to its athletes, rewarding gold medalists with $102,000, silver medalists with $52,000, and bronze medalists with $33,000.
Australia
Australian athletes receive $13,000 for a gold medal, $10,000 for a silver medal, and $7,000 for a bronze medal.
Malaysia
Malaysia rewards its gold medalists with $216,000, silver medalists with $65,000, and bronze medalists with $22,000.
Germany
German athletes receive $22,000 for a gold medal, $16,000 for a silver medal, and $11,000 for a bronze medal.
Poland
Polish medalists are rewarded with $25,000 for a gold medal, $19,000 for a silver medal, and $14,000 for a bronze medal.
Republic of Kazakhstan
Kazakh athletes earn $250,000 for a gold medal, $150,000 for a silver medal, and $75,000 for a bronze medal.
Israel
Israel offers $271,000 for a gold medal, $216,000 for a silver medal, and $135,000 for a bronze medal.
Indonesia
Indonesian athletes receive $300,000 for a gold medal, $150,000 for a silver medal, and $60,000 for a bronze medal.
Japan
Japanese medalists are rewarded with $32,000 for a gold medal, $13,000 for a silver medal, and $6,000 for a bronze medal.
United States
In the United States, gold medalists earn $38,000, silver medalists receive $23,000, and bronze medalists take home $15,000.
South Korea
South Korean athletes receive $45,000 for a gold medal, $25,000 for a silver medal, and $18,000 for a bronze medal.
Singapore
Singapore offers one of the highest incentives, with gold medalists earning $745,000, silver medalists receiving $373,000, and bronze medalists taking home $186,000.
Hong Kong
Hong Kong rewards its gold medalists with $768,000, silver medalists with $384,000, and bronze medalists with $192,000.
France
French athletes receive $87,000 for a gold medal, $43,000 for a silver medal, and $22,000 for a bronze medal.