We recently reported how Hong Kong individual gold medalists at this year’s Olympic Games in Tokyo will be given a payout of HK $5 million (~$644,000 USD), an increase of over 66% from the amount offered at the 2016 Games in Rio.
This led us to take a look as to other nations’ medal bonuses paid by Olympic Committees to be given to those Summer Olympic Games athletes who work their way onto the podium in Tokyo, keeping in mind that these OC-paid medal payments aren’t the only way Olympic athletes are funded.
The United Kingdom, for example, does not offer specific medal bonuses but rather devotes approximately $162 million USD of government and lottery funds to Olympic and Paralympic sports each year. (Money Under 30)
Olympic sports such as badminton, basketball and surfing, which do not receive elite funding by UK Sport, are able to apply for up to £500,000 of financial help from a new “aspiration fund” set up by the government. (The Guardian)
Another example is monetary benefits bestowed upon members of the United States’ national swimming team, including tiered monthly stipends depending on pro, NCAA or high school status.
Bottom line, medal payments are just one reward for the physical, mental and financial sacrifices made by athletes around the world whose dream is to hear their anthem played in front of the biggest sporting audience.
Olympic Medal Rewards per Nation as of 2019
|Singapore||1,000,000 USD||500,000 USD||250,000 USD|
|Indonesia||746,000 USD||378,000 USD||188,000 USD|
|Kazakhstan||250,000 USD||150,000 USD||75,000 USD|
|Azerbaijan||248,000 USD||124,000 USD||62,000 USD|
|Italy||166,000 USD||83,000 USD||55,000 USD|
|Hungary||125,000 USD||89,000 USD||71,000 USD|
|Russia||61,000 USD||38,000 USD||26,000 USD|
|France||55,000 USD||22,000 USD||14,000 USD|
|USA||37,500 USD||22,500 USD||15,000 USD|
|South Africa||37,000 USD||19,000 USD||7,000 USD|
|Germany||22,000 USD||17,000 USD||11,000 USD|
|Canada||15,000 USD||11,000 USD||8,000 USD|
|Australia||13,800 USD||10,350 USD||6900 USD|
Some data courtesy of Money Under 30.