The Olympics are a time for celebration, achievement, and reward. While winning a medal is the ultimate goal for athletes, the financial rewards that come with it vary greatly from country to country.
Uganda’s Joshua Cheptegei made history by winning the 10,000-meter men’s final at the 2024 Paris Olympics, earning him a gold medal prize money of Shs100 million ($27,000) from the government. However, this amount pales in comparison to what other countries offer their medal-winning athletes.
Hong Kong leads the pack, rewarding its Olympic athletes with a staggering $768,500 (about Shs2.9 billion) for a gold medal, $384,000 (about Shs1.4 billion) for silver, and $192,000 (Shs715 million) for bronze. Singapore follows closely, offering $737,000 (about Shs2.7 billion) for individual gold medal winners, with team sports winners receiving approximately $1.5 million.
Taiwan, competing under the name “Chinese Taipei,” provides its athletes with $720,000 (about Shs2.6 billion) for a gold medal, $252,000 for silver, and $180,000 for bronze, plus a one-time payment of $600,000 and a lifetime monthly stipend of $4,000.
Other countries offering impressive rewards for their Olympic champions include Indonesia, Kazakhstan, Malaysia, Israel, Spain, France and South Korea among others.
In contrast, some countries offer smaller prize money but have a large number of winners, resulting in substantial total payments. The United States, for example, offers $37,500 (about Shs139 million) for a gold medal, but American athletes can receive significant bonuses from national sports organizations.
Interestingly, some countries like the United Kingdom, New Zealand, Norway, and Sweden do not pay their winners, relying on sponsorships and government support for training and coaching.
The varying rewards for Olympic medal winners reflect each country’s unique approach to supporting its athletes and celebrating their achievements.
