«Olympic prizes: which countries pay athletes for medals in 2024 in Paris»
1 august 2024 в 22:13
Thousands of athletes from all over the world are competing at the 2024 Olympic Games in Paris with the hope of bringing home coveted gold medals — and a lot of money as prizes.
Although the International Olympic Committee does not provide financial rewards to its winners, countries often give money to their athletes for medaling — with some countries offering much larger sums than others.
According to Forbes, the United States offers gold medal winners a bonus of $ 37,500 on behalf of the US Olympic and Paralympic Committee, while silver medalists receive $ 22,500, and bronze medalists earn $ 15,000, according to USA Today.
This means that third-place winners earn less than the current federal poverty level for one person.
The impact of these winnings varies significantly. For example, sports superstars such as NBA players like LeBron James — who are billionaires — are less likely to need financial compensation than athletes who are trying to cover the costs of training and participating in the Olympic Games, as potential Olympians do not receive a salary. Only a select few receive lucrative corporate partnerships.
More than 90 percent of all Olympians reported spending up to $ 21,700 on participation fees and membership dues leading up to the games. Over a quarter of all US Olympians reported earning less than $ 15,000 a year in total income.
However, US payouts for Olympic prizes are small compared to other countries. According to Forbes, out of the 206 countries and territories participating in the competitions, at least 33 will provide cash prizes for medals, and in this group, 15 have confirmed that they will pay over $ 100,000 to athletes who take first place on the podium.
The highest payouts belong to Hong Kong, which operates independently from China. They pay their athletes $ 768,000 for gold and $ 380,000 for silver.
After Hong Kong, the highest payouts are provided by Israel ($ 275,000) and Serbia ($ 218,000).
USOPC, which will also pay $ 22,500 for silver and $ 15,000 for bronze, provides grants and benefits (such as medical insurance) that are more widely available to Olympians. Athletes reported spending up to $ 9,200 on expenses related to injuries, and only 16 percent were reimbursed, according to the report of the Commission on the State of the American Olympic and Paralympic Movement — an independent commission appointed by Congress.
Twelve more countries that exceed the $ 100,000 mark include Serbia ($ 218,000), Malaysia ($ 214,000), Italy ($ 196,000), Lithuania ($ 182,000), Moldova ($ 171,000), Latvia ($ 155,000), Hungary ($ 154,000), Bulgaria ($ 139,000), Ukraine ($ 125,000), Kosovo ($ 120,000), Estonia ($ 109,000), Czech Republic ($ 103,000), and Spain ($ 102,000)
Although the International Olympic Committee does not provide financial rewards to its winners, countries often give money to their athletes for medaling — with some countries offering much larger sums than others.
According to Forbes, the United States offers gold medal winners a bonus of $ 37,500 on behalf of the US Olympic and Paralympic Committee, while silver medalists receive $ 22,500, and bronze medalists earn $ 15,000, according to USA Today.
This means that third-place winners earn less than the current federal poverty level for one person.
The impact of these winnings varies significantly. For example, sports superstars such as NBA players like LeBron James — who are billionaires — are less likely to need financial compensation than athletes who are trying to cover the costs of training and participating in the Olympic Games, as potential Olympians do not receive a salary. Only a select few receive lucrative corporate partnerships.
More than 90 percent of all Olympians reported spending up to $ 21,700 on participation fees and membership dues leading up to the games. Over a quarter of all US Olympians reported earning less than $ 15,000 a year in total income.
However, US payouts for Olympic prizes are small compared to other countries. According to Forbes, out of the 206 countries and territories participating in the competitions, at least 33 will provide cash prizes for medals, and in this group, 15 have confirmed that they will pay over $ 100,000 to athletes who take first place on the podium.
The highest payouts belong to Hong Kong, which operates independently from China. They pay their athletes $ 768,000 for gold and $ 380,000 for silver.
After Hong Kong, the highest payouts are provided by Israel ($ 275,000) and Serbia ($ 218,000).
USOPC, which will also pay $ 22,500 for silver and $ 15,000 for bronze, provides grants and benefits (such as medical insurance) that are more widely available to Olympians. Athletes reported spending up to $ 9,200 on expenses related to injuries, and only 16 percent were reimbursed, according to the report of the Commission on the State of the American Olympic and Paralympic Movement — an independent commission appointed by Congress.
Twelve more countries that exceed the $ 100,000 mark include Serbia ($ 218,000), Malaysia ($ 214,000), Italy ($ 196,000), Lithuania ($ 182,000), Moldova ($ 171,000), Latvia ($ 155,000), Hungary ($ 154,000), Bulgaria ($ 139,000), Ukraine ($ 125,000), Kosovo ($ 120,000), Estonia ($ 109,000), Czech Republic ($ 103,000), and Spain ($ 102,000)
© Smirnova Olga
