First and foremost, the International Olympic Committee (IOC) does not award medal winners momentarily. The first three athletes received a medal and the first eight athletes in each event received a diploma.
Olympians usually receive monetary and non-monetary rewards from their countries for winning medals. However, the monetary rewards given by the countries can vary. Also, the Olympians rely on their sporting endeavours, including efforts to land lucrative endorsement deals. Let us go through how each country rewards their athletes for winning a medal.
USA: Under the Olympic & Paralympic Committee committee’s Operation Gold program by USA, the gold medalists receive a sum of $37,500 while the athletes winning silver and bronze medals receive $22,500 and $15,000 respectively. Also, USA Wrestling’s Living The Dream Medal Fund offers $250,000 for gold medalists. The swimmers get $75,000 for earning Olympic Gold from USA Swimming.
Indonesia
According to a report in Reuters, Indonesian shuttlers Greysia Polii and Apriyani Rahayu were promised five cows, a meatball restaurant and a new house after winning gold medals. The report also mentioned that Rahayu was offered five cows and a house by her district’s head.
Hong Kong
The Hong Kong sports institutes give its athletes prize money based on the rank they are placed at. At the Paris Games, the gold medalists from the country will receive $768,000.
Malaysia
According to a report published by Malay Mail, Youth and Sports Minister Hannah Yeoh promised a foreign-made car for athletes who will secure a podium finish.
Republic of Kazakhstan
If an athlete brings a medal home from the Olympics, the Republic's Ministry of Culture and
Sports gives them an apartment. Gold medalists get three-room apartments, silver medalists get two-room apartments and bronze medalists get one-room apartments.
Singapore
Singapore's National Olympic Scheme has an incentive scheme to reward Olympic medalists. It awards $1,000,000 to Olympic gold medalists in individual sports. Silver medalists earn $372,000 and the bronze medalists garner $186,000 as a monetary reward.
Saudi Arabia
Saudi athletes awarded karate athlete Tareg Hamedi 5 million riyal after he earned silver at the Tokyo Olympics 2021. He narrowly missed the gold after being disqualified for an illegal kick at the Tokyo Olympics.
India
The Indian government offers Olympic gold medalists INR 75 lacs and silver medalists Rs 50 lacs. Bronze medalists get Rs 10 Lacs.
Russia
In Russia, Olympic Champions are handed 4 million rubles along with expensive foreign cars, apartments, honorary titles and lifetime stipends.
