How much countries will pay their victorious athletes

The 2024 Paris Olympics are underway, with dozens of medals already handed out. Athletes from around the world are not only competing for glory and a place in history but also for substantial financial rewards. Alongside their medals, victorious athletes receive a stuffed toy of the Olympic mascot and a box containing the official event poster. However, some medalists also enjoy additional financial incentives from their home countries.

While the International Olympic Committee (IOC) does not award prize money for winning medals, various countries reward their athletes with significant medal bonuses. Here are some of the payouts based on information compiled from national Olympic committees, sports associations, and local reports.

This photograph taken in Paris on February 8, 2024, shows the Olympic medals during the unveiling of the Olympic and Paralympic medals for the Paris 2024 Olympic Games. On the medals’ head side, the engraved figures of the goddess of victory Athena, Nike, the Panathenaic stadium, and the Acropolis are imposed by the International Olympic Committee (IOC). Still, Paris 2024 has obtained exceptional authorization to add the design of the Eiffel Tower and use 18 grams of Eiffel Tower metal on each medal, extracted from pieces of the tower. (Photo by Dimitar DILKOFF / AFP) (Photo by DIMITAR DILKOFF/AFP via Getty Images)

Dominican Republic

Dominican athletes are among the most lucratively rewarded at the 2024 Paris Olympics. Francisco Camacho, the country’s sports minister, announced that the winner of a gold medal will receive $252,000. Silver medalists will earn $168,000, while bronze medalists will take home just over $134,000. The Dominican Republic will invest over half a million dollars in rewards for its medal-winning athletes.

Colombia

In Colombia, the incentives for Olympic medals have been adjusted to reflect recent economic changes. The reward for a gold medal has been increased by 10% to 264 SMLMV (Monthly Legal Minimum Wages in Force), while the silver and bronze medals have seen a 5% increase, bringing their values to 147 SMLMV and 105 SMLMV, respectively.

Mexico

Mexico also offers generous bonuses to its medal-winning athletes. According to the Mexican Government’s Physical Culture and Sports program for Fiscal Year 2024, the prizes are distributed as follows:

Gold Medal: $161,783.65 (3 million Mexican pesos)
Silver Medal: $107,826.71 (2 million Mexican pesos)
Bronze Medal: $53,915.813 (1 million pesos Mexican pesos)

Japan's Shinnosuke Oka celebrates with his gold medal during the podium ceremony for the artistic gymnastics men's all-around final during the Paris 2024 Olympic Games at the Bercy Arena in Paris, on July 31, 2024. (Photo by Loic VENANCE / AFP) (Photo by LOIC VENANCE/AFP via Getty Images) — Japan’s Shinnosuke Oka celebrates with his gold medal during the podium ceremony for the artistic gymnastics men’s all-around final during the Paris 2024 Olympic Games at the Bercy Arena in Paris, on July 31, 2024. (Photo by Loic VENANCE / AFP) (Photo by LOIC VENANCE/AFP via Getty Images)

Chile

In Chile, the National Institute of Sport has outlined the financial rewards for Olympic medals:

Gold Medal: $56,271.43 (Approximately 53 million pesos)
Silver Medal: $38,216.299 (Approximately 36 million pesos)
Bronze Medal: $27,600.66 (Approximately 26 million pesos)

Spain

Spain offers significant financial incentives to its athletes, rewarding gold medalists with $102,000, silver medalists with $52,000, and bronze medalists with $33,000.

Australia

Australian athletes receive $13,000 for a gold medal, $10,000 for a silver medal, and $7,000 for a bronze medal.

Malaysia

Malaysia rewards its gold medalists with $216,000, silver medalists with $65,000, and bronze medalists with $22,000.

Germany

German athletes receive $22,000 for a gold medal, $16,000 for a silver medal, and $11,000 for a bronze medal.

Poland

Polish medalists are rewarded with $25,000 for a gold medal, $19,000 for a silver medal, and $14,000 for a bronze medal.

Republic of Kazakhstan

Kazakh athletes earn $250,000 for a gold medal, $150,000 for a silver medal, and $75,000 for a bronze medal.

Israel

Israel offers $271,000 for a gold medal, $216,000 for a silver medal, and $135,000 for a bronze medal.

Bronze Medalists Andrea Spendolini-Sirieix and Lois Toulson of Team Great Britain pose with the national flag of Great Britain as they look at their medals following the medal ceremony after the Women's Synchronised 10m Platform Final on day five of the Olympic Games Paris 2024 at Aquatics Centre on July 31, 2024, in Paris, France. (Photo by Clive Rose/Getty Images) — Bronze Medalists Andrea Spendolini-Sirieix and Lois Toulson of Team Great Britain pose with the national flag of Great Britain as they look at their medals following the medal ceremony after the Women’s Synchronised 10m Platform Final on day five of the Olympic Games Paris 2024 at Aquatics Centre on July 31, 2024, in Paris, France. (Photo by Clive Rose/Getty Images)

Indonesia

Indonesian athletes receive $300,000 for a gold medal, $150,000 for a silver medal, and $60,000 for a bronze medal.

Japan

Japanese medalists are rewarded with $32,000 for a gold medal, $13,000 for a silver medal, and $6,000 for a bronze medal.

United States

In the United States, gold medalists earn $38,000, silver medalists receive $23,000, and bronze medalists take home $15,000.

South Korea

South Korean athletes receive $45,000 for a gold medal, $25,000 for a silver medal, and $18,000 for a bronze medal.

Singapore

Singapore offers one of the highest incentives, with gold medalists earning $745,000, silver medalists receiving $373,000, and bronze medalists taking home $186,000.

Hong Kong

Hong Kong rewards its gold medalists with $768,000, silver medalists with $384,000, and bronze medalists with $192,000.

France

French athletes receive $87,000 for a gold medal, $43,000 for a silver medal, and $22,000 for a bronze medal.