- In addition to entering the history of the Olympic competition, gold medalists in individual competitions can also receive huge monetary rewards. Awards are given by National Olympic Committees and sometimes by the government as well
- The amounts individual countries offer to medalists may surprise you. According to a report by Forbes, Hong Kong, Turkey or Malaysia can reward their players very generously.
- The dominance of winter sports lies in the middle of the pack. There are also some countries that don’t pay to get an imp. One of them is Norway, which leads the medal standings at the Beijing Olympics. Four years ago, Norwegians were also the best in this ranking
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The majority of the Olympic community are athletes who cannot count on huge financial rewards for their accomplishments, which are often heroic. In many cases, they must be based on very modest scholarships or a small amount of support from sponsors who sometimes cannot cover the costs of equipment, treatment, or travel. However, there are also lucky ones among them, whose accounts can be enriched with large amounts. However, the condition is to win an Olympic medal and … a certain nationality, because, as the Forbes analysis shows, many countries are able to reward athletes returning from the Winter Olympics in Beijing with medals on their necks.
Of the 91 countries participating in the Beijing competition, at least 32 will award cash prizes to their competitors. Only four of them did not announce financial support for Olympic successes. Forbes prepared a special report in which it rounded up the rewards given by individual countries in terms of converting local currency into dollars and based on exchange rates as of January 28.
At the forefront of the competition are Turkey and Hong Kong, which compete in the Olympic competition independently of China. Turks are able to pay about 380,000 PLN for their athletes. dollars, while Hong Kong promised the equivalent of 642,000 dollars. dollar. However, these are all very theoretical considerations, because none of the aforementioned federations scored a medal at the Winter Olympics in their achievements.
Malaysia ($238,000), Italy ($201,000), Cyprus ($168,000) and Latvia ($159,000) are also at the forefront of the rankings. It is interesting that the Americans are in the middle of the field, who will pay their athletes 37.5 thousand in gold. Gap. These resources are considered in addition to scholarships and benefits such as health insurance widely available to US officials, all paid for by the United States Olympic and Paralympic Committee, which raises funds through a nonprofit that does not receive federal funding.
The rates paid by Americans are twice those awarded in Australia or Canada, but at the same time twice as high as those awarded in France or Romania.
Rewards systems for individual states may differ not only in height. Some countries, such as the United States, pay equal amounts to athletes in individual and team sports, while others pay lower amounts to athletes competing in team sports. An example is Slovakia, which promises about 56,000 jobs. Gap. For a gold medal in individual sports and an average of about 17 thousand. Gap. Each team member has won a gold medal – although the exact amount may increase or decrease for each athlete in a team sport depending on how the Slovak Olympic and Sports Committee assesses his importance to the team.
In some countries, athletes can collect awards for their Olympic successes from two sources: from the National Olympic Committee and directly from the government or ministry. This is the case, for example, in Slovenia.
There are also countries that have moved away from paying cash bonuses. This group includes, for example, Great Britain or Iceland, but Olympic medalists can count on other forms of support there. Norway does not pay for the achievements of the athletes’ medals, as it triumphed at the 2018 Olympics in Pyeongchang in the medal table with 39 “pucks” on its account. In the current Olympics, Norwegians are also leading the way in terms of medal achievements.
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