This article details standard incentives given to Olympic athletes for winning a medal either by their
National Olympic Committee
A National Olympic Committee (NOC) is a national constituent of the worldwide Olympic movement. Subject to the controls of the International Olympic Committee, NOCs are responsible for organizing their people's participation in the Olympic Games ...
, the government of their country/territory, or both.
While the
International Olympic Committee
The International Olympic Committee (IOC; french: link=no, Comité international olympique, ''CIO'') is a non-governmental sports organisation based in Lausanne, Switzerland. It is constituted in the form of an association under the Swiss ...
itself don't provide monetary rewards to Olympic medalists, some countries provide prize money to athletes for winning a medal in the Olympics.
Countries like Singapore and India, sports have heavy government involvement and athletes are given high monetary reward for winning an Olympic medal as a means to promote the growth of sporting culture in those countries.
According to
Forbes
''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also re ...
, Great Britain, New Zealand, Norway and Sweden don't provide monetary incentives for their athletes winning an Olympic medal (as of the 2020 Summer Olympics).
Incentives by Country (USD equivalent in 2021)
Per country
Singapore
The
Singapore National Olympic Council
The Singapore National Olympic Council (SNOC) is the National Olympic Committee and National Paralympic Committee for the Republic of Singapore. It was founded in 1947 as the Singapore Olympic and Sports Council (SOSC) before renaming to its curr ...
in the 1990s under President
Yeo Ning Hong
Yeo Ning Hong ( zh, s=杨林丰, p=Yáng Línfēng; born 3 November 1943) is a Singaporean chemist and former politician who served as Minister for Defence between 1991 and 1994, and Minister for Communications between 1984 and 1991. A former ...
instituted the Multi-Million Dollar Award Programme (MAP), an incentive scheme to reward athletes who win medals in major international tournaments, including the Olympics, for Singapore. The programme's name was changed to Major Games Award Programme (MAP) in 2018.
The largest prize money under the MAP is for athletes who clinch an Olympic gold medal. For athletes who win multiple Olympic gold medals, they entitled S$1 million only for the first individual gold medal won at the Games.
The money, however, is taxable and the medal winner is obligated to make a donation back into the sport they are representing.
Philippines
Coaches who are Filipino citizens who personally trained winning Filipino Olympians are also entitled to prize money 50% of the cash incentives for gold, silver, and bronze medalists.
Prior to the RA 10699, standard government incentives are codified under the RA 9064 or the National Athletes, Coaches and Trainers Benefits and Incentives Act of 2001 which mandates a prize money of for Olympic gold medalists, for silver medalists and for bronze medalists.
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References
Olympic medals
Olympic Games
{{Olympic Games