In a thrilling display of athletic prowess, the Paris 2024 Olympics captivated global audiences, with athletes delivering exceptional performances on the world stage. Here’s a snapshot of the financial and non-financial rewards offered to Olympic medalists by their home countries, including significant cash prizes and unique gifts like apartments, cars, and lifetime pensions.
Financial Rewards for Olympic Medalists:
Olympic athletes often receive substantial monetary rewards from their home countries, which celebrate their achievements and motivate others. According to reports from the National Olympic Committees and various sources, Hong Kong stands out by awarding USD 768,000 (approx. Rs. 6,44,84,313) to gold medalists, USD 384,000 to silver medalists, and USD 192,000 to bronze medalists.
Singapore follows closely, offering between USD 737,000 and USD 745,000 (Rs. 6,18,81,652 – Rs. 6,25,53,366) for gold, USD 368,000 to USD 373,000 for silver, and USD 184,000 to USD 186,000 for bronze. Taiwan provides USD 716,000 for gold, USD 250,000 for silver, and USD 179,000 for bronze. Italy rewards gold medalists with USD 197,100, silver with USD 98,500, and bronze with USD 65,700. At the lower end, Australia offers USD 13,000 for gold, USD 10,000 for silver, and USD 7,000 (approx. Rs. 5,87,747) for bronze.
Indian Athletes’ Rewards:
In India, there isn’t a detailed report on the monetary rewards provided by the government to Olympic winners. However, Indian gold medalists are recognized with USD 90,000 (approx. Rs. 75,56,490) and an additional INR 10 million from the Indian Olympic Association.
Non-Monetary Rewards for Olympic Medalists:
Apart from cash, many countries offer various non-monetary rewards. Kazakhstan provides athletes with apartments based on their medal achievements. South Korea allows medalists to choose between a lifelong pension or prize money. Hong Kong offers lifetime free public transit tickets to its Olympic medalists.
In Poland, silver medalist Klaudia Zwolinska received USD 50,374 from the Polish Olympic Committee, along with a painting, a holiday voucher, a scholarship, and a diamond. In Malaysia, private companies often provide additional incentives such as luxury apartments or extra cash.
Some countries offer unique rewards as well. For example, during the Tokyo Olympics, a Malaysian chain promised free food and Teh Tarik (a popular Southeast Asian beverage) for life to athletes representing the country. Japanese table tennis player Kasumi Ishikawa was gifted 100 bags of rice after winning silver, while Indonesian badminton stars Apriyani Rahayu and Greysia Polii received five cows, a meatball restaurant, and a new house.
In contrast, countries like Great Britain and Norway do not provide direct cash bonuses or significant non-monetary rewards for their medalists.
