The 2024 Olympics are not just about fame and glory. The athletes are also fighting for big prize money from their home countries. Who pays the most, who skimps?
At the 2024 Olympic Games in Paris, over ten thousand athletes from 206 nations will compete for medals, fame, immortality – and prizes from their home countries. The prize money varies greatly.
While some nations reward their athletes with just a few thousand euros, others pay small fortunes for gold, silver and bronze. How much do the German medal winners get – and how do we compare internationally?
What will German winners get at the 2024 Olympics?
In Germany, it is the German Sports Aid Foundation that pays Olympic participants bonuses for medals. These payments are privately financed and do not require public funding. The amount of the bonuses has remained constant for a decade. However, the actual payment is only made one year after the awards ceremony.
This year, Sporthilfe plans to distribute a total of 2.1 million euros to the successful participants in the Olympic and Paralympic Summer Games in Paris. Logically, the most money will go to a gold medal.
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German medal winners at the Olympic Games are rewarded as follows: 20,000 euros for a gold medal, 15,000 euros for silver and 10,000 euros for bronze. The sport in question is irrelevant.
In addition, athletes who secure places beyond the podium will also receive prize money: 5,000 euros for fourth place, 4,000 euros for fifth place, 3,000 euros for sixth place, 2,000 euros for seventh place and 1,500 euros for eighth place.
In reality, the money is rather small compared to other nations. How much do other countries pay?
What other nations pay in Olympic bonuses
Other nations pay this much for the gold medal:
- Hong Kong: €690,000
- Singapore: €686,000
- Taiwan: €550,000 (plus €3,700 monthly for life)
- Israel: €254,000
- Serbia: 201,000 €
- Italy: 178,540 €
- Spain: €93,240
- France: €79,352
- USA: €35,500
- Canada: €13,485
- Australia: €12,000
In Paris, the World Athletics Federation will for the first time add an additional 50,000 US dollars (approximately 46,000 euros) to each gold medal for its Olympic champions. This marks the first time that a professional association has distributed cash prizes to its winners at the Olympic Games. While this innovation has been met with enthusiasm by the athletes, other sports associations and the International Olympic Committee (IOC) have voiced criticism.
Source: Stern
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