Paris 2024: Hong Kong, Singapore, Indonesia among top 10 countries with highest prize money for medal-winning athletes

As the 2024 Paris Olympics came to an end on Sunday, athletes who won medals at the Olympics will receive more than just gold, silver, or bronze awards.

While the International Olympic Committee (IOC) does not provide prize money, many countries reward their medallists with financial bonuses and other unique gifts.

The United States ended the game as the country with the most medals with 126, followed by China with 91, and Great Britain in third place with 65.

According to Economic Times, here are the countries with the highest reward for their winning medallists at the 224 Olympics.

Hong Kong

Following the conclusion of the 2020 Tokyo Olympics, the country increased its prize money for medal-winning athletes by 20 per cent. Gold medallists from Hong Kong now receive 6 million Hong Kong dollars ($768,000). Silver and bronze medallists earn HK$3 million and HK$1.5 million, respectively.

With a total of four medals (two each in swimming and fencing), the country will pay out $1.9 million to the winning athletes.

Singapore

The Southeast Asian country is second on the list, paying 1 million Singapore dollars ($745,300) to gold medallists, SG$500,000 ($373,000) to silver medallists, and SG$250,000 ($186,000) to bronze medallists.

The country will pay $186,00 to its only medallist, who won silver in sailing.

Indonesia

Indonesia is the third Asian country on the list, with $300,000 for gold medallists, $150,000 for silver medallists, and $60,000 for bronze medallists.

The country won a total of three medals (gold in sports climbing and weightlifting and a bronze in badminton).

Israel 

Despite calls to sanction the country from participating in the games, Israel won seven medals in total.

Israel pays $271,000 to gold medallists, $216,000 to silver medallists, and $135,000 to bronze medallists.

Republic of Kazakhstan

Kazakhstan is the fourth Asian country to appear, paying $250,000 (gold), $150,000 (silver), and $75,000 (bronze) to win a medal.

The country won seven medals. Gold in Judo; silver in artistic gymnastics, boxing, and wrestling; and bronze in boxing, judo, and shooting. The athletes will also receive free apartments for their feats.

Malaysia

The Malaysia National Sports Council offers 1 million ringgit ($216,000) for individual gold medallists, with silver and bronze medallists receiving 300,000 ($65,000) and 100,000 ringgit ($22,000), respectively.

Also, according to a local media report, all Malaysian athletes who secure a podium finish will receive a “foreign-made car,” as stated by Malaysia’s youth and sports minister, Hannah Yeoh.

Spain

Spain continued its excellent form, beating hosts France 5-3 in extra time to win gold in men’s football for the first time in 32 years.

The European country won 18 medals in total, with the winning athletes set to receive $102,000 (gold), $52,000 (silver), and $33,000 (bronze).

France

Host France ranked fourth in total number of medals won with 64 medals (16 gold, 26 silver, and 22 bronze).

Gold medallists will earn $87,000, $43,000 for silver medallists, and $22,000 for bronze medallists.

South Korea

With a total of 32 medals, the Asian country provides 63 million Korean won ($45,000) to gold medallists, 35 million won ($25,000) to silver medallists, and 25 million won ($15,000) to bronze medallists.

Apart from that, they have an option to choose between a lifelong monthly pension of a million won or a lump sum of 67.2 million won, added ET.

United States

For the eighth time in a row, which dates back to the 1996 Olympics in Atlanta, the United States ranked first in total medals won with 126 medals (40 gold, 44 silver, and 42 bronze).

Gold-winning medallists will earn $38,000, silver medallists $23,000, and bronze medallists $15,000.

Similarly, according to Forbes, Italy ranks as the country with the highest payouts to athletes, with $10.7 million to be paid to 40 winning medallists. France ranks second with $9.4 million for 64 medals, and the United States ranks third with $8.3 million for 126 medals.

Hungary, Hong Kong, Ukraine, Israel, the Netherlands, Poland, and New Zealand complete the top 10.

Vanguard