The Paris 2024 Olympic and Paralympic Games are well underway, with numerous medals already awarded. Alongside medals, winners receive a stuffed toy of the Olympic mascot and a “mysterious” box containing the event poster. Some athletes also benefit from financial rewards, even though the International Olympic Committee does not provide prize money.
Countries like Hong Kong and Singapore offer substantial financial incentives to their medalists. Hong Kong’s gold medalists earn HK$6 million ($768,000), while silver and bronze medalists receive HK$3 million and HK$1.5 million, respectively. In Paris, Hong Kong has already seen successes in swimming and fencing. Singapore rewards its Olympic gold medalists with SG$1 million ($745,300).
Other countries also dangle significant cash rewards. Israel offers a million Israeli shekels ($270,537) for gold, a 50% increase from the Tokyo Games. Host country France increased its incentive to 80,000 euros ($86,528) for gold medalists. Germany extends rewards up to eighth place, with gold awardees receiving 20,000 euros ($22,000).
In India, gold medalists earn 7.5 million rupees ($90,000) from the government and an additional 10 million rupees ($120,000) from the Indian Olympic Association.
Beyond cash, athletes from some countries earn unique rewards. Kazakhstan provides apartments, Malaysia promises a foreign-made car, and South Korean winners receive lifelong pensions or lump-sum payments. Malaysia also sees private companies offering luxury apartments or additional cash incentives.
Quirky gifts like lifetime free public transportation in Hong Kong, free food, and unusual tokens such as cows and rice add to the rewards for these athletes. However, some nations like Great Britain and Norway do not offer direct financial bonuses for Olympic podium finishes.
Disclosure: CNBC parent NBCUniversal owns NBC Sports and NBC Olympics. NBC Olympics holds U.S. broadcast rights to all Summer and Winter Games through 2032.
Original Story https://www.cnbc.com/2024/07/31/heres-how-much-athletes-at-the-paris-olympics-earn-for-winning-medals.html
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