How much the gold is worth: a comparison of Olympic medal prizes
As athletes from different countries compete at the 2024 Olympic Games, the government and sports organizations prepare to generously reward them for their achievements. Kazinform News Agency correspondent looked into how countries reward their Olympians and Paralympians.
Kazakhstan offers its Olympians rewards of between $75,000 and $250,000 for their medals, as well as apartments that are provided by law. Malaysia, Morocco, Italy, Hungary and Egypt also provide bonuses of between $112,000 and $365,000 for Olympic medals.
In Uzbekistan, gold medalists receive $200,000, silver medalists $100,000 and bronze medalists $50,000. Georgia ranges from $92,000 to $368,000 depending on the medal. The Indian government offers $90,000, while the Indian Olympic Association offers $120,000 for a gold medal.
Hong Kong offers its medal winners HK$6 million, equivalent to about $770,000. Singapore receives $1 million ($700,000) for victories in independent sports and $2 million ($1.6 million) for team sports. Silver and bronze medalists receive 50% and 25% of this amount.
The US offers $37,500 for gold, $22,500 for silver, and $15,000 for bronze. There are additional incentives for individual sports: for example, the Living The Dream Medal Fund offers $250,000 for gold in sports, while USA Swimming offers $75,000 for swimming.
France offers $125,000 for gold, $100,000 for silver, and $80,000 for bronze.
In Australia, the Medal Incentive Funding program awards $20,000 for a gold medal, $15,000 for silver, and $10,000 for bronze. Italy has paid $201,000 to each of its 17 Winter Olympic gold medalists.
Countries go further and give winners not only good awards, but also apartments. In Kazakhstan, for example, Olympic medalists are legally entitled to apartments depending on the value of their medals. In Iraq, weightlifter Ali Ammar Yasir received a plot of land, a monthly stipend, and $7,000 for participating in the 2024 Olympics.
This year, several current federations announced for the first time that they would pay medalists cash prizes. The World Athletics Federation established a prize of 50 thousand US dollars for a gold medal in athletics.
The International Boxing Association (IBA) offered larger amounts: 100 thousand US dollars for gold, 50 thousand US dollars for silver and 25 thousand US dollars for bronze. In total, the prize fund for boxing competitions is more than 3.1 million US dollars, covering more than 100 athletes.
However, not all countries financially reward athletes. The United Kingdom, Norway, and Sweden, for example, do not pay Olympic medalists.
