Top 10 Countries With the Highest Prize Money for Olympic Medalists in 2024

As the 2024 Paris Olympics concluded, athletes received more than medals, many also gained substantial financial rewards from their countries. 

While the International Olympic Committee (IOC) does not provide prize money, individual nations offer financial bonuses and other incentives to their medal-winning athletes.

At the end of the games, the United States topped the medal count with 126 medals, followed by China with 91, and Great Britain with 65. According to the Economic Times,

Here is a breakdown of the countries that offered the highest rewards to their Olympic champions in 2024.

Hong Kong

Hong Kong increased its prize money by 20% after the 2020 Tokyo Olympics. Gold medalists now receive 6 million Hong Kong dollars ($768,000), while silver and bronze medalists get HK$3 million and HK$1.5 million, respectively. With four medals in total, Hong Kong awarded $1.9 million to its athletes.

Singapore

Singapore ranks second, awarding 1 million Singapore dollars ($745,300) to gold medalists, SG$500,000 ($373,000) to silver medalists, and SG$250,000 ($186,000) to bronze medalists. The country’s sole medalist, a silver in sailing, received $186,000.

Indonesia  

Indonesia offered $300,000 for gold, $150,000 for silver, and $60,000 for bronze medalists. The nation secured three medals across various sports.

Israel

Israel, despite facing calls for sanctions, won seven medals. Their gold medalists received $271,000, silver medalists $216,000, and bronze medalists $135,000.

Republic of Kazakhstan  

Kazakhstan’s athletes received $250,000 for gold, $150,000 for silver, and $75,000 for bronze. Medal winners also received free apartments. The country won seven medals in total.

Malaysia  

The Malaysia National Sports Council offers RM1 million ($216,000) for gold, RM300,000 ($65,000) for silver, and RM100,000 ($22,000) for bronze. Malaysian medalists were also promised a foreign-made car.

Spain

Spain won 18 medals and rewarded its athletes with $102,000 for gold, $52,000 for silver, and $33,000 for bronze.

France 

The host country, France, provided $87,000 for gold, $43,000 for silver, and $22,000 for bronze medalists from a total of 64 medals.

South Korea

South Korean gold medalists received 63 million won ($45,000), with silver and bronze getting 35 million won ($25,000) and 25 million won ($15,000), respectively. Athletes could choose between a lifelong monthly pension or a lump sum.

United States

The United States, leading the total medal count, awarded $38,000 for gold, $23,000 for silver, and $15,000 for bronze.