As the Paris Olympics approach, from July 26 to August 11, many are curious about how athletes are rewarded for their exceptional performances. While the International Olympic Committee (IOC) does not award prize money for medals, athletes can still receive a range of rewards from their home countries and private sponsors.

This year, the World Athletics organization has broken new ground by introducing prize money for Olympic track and field gold medalists. Announced in April, this initiative will see gold medalists receive $50,000, marking the first time an international federation has offered monetary awards at an Olympic Games. World Athletics President Sebastian Coe emphasized that athletes deserve a share of the revenues they help generate, noting their crucial role in broadcasting income for the IOC and World Championships.

Different countries have their own unique methods of rewarding Olympic achievers:

• Indonesia
  Gold medalists Greysia Polii and Apriyani Rahayu, who triumphed in badminton at the Tokyo 2021 Games, have been promised a diverse set of rewards. These include five cows, a meatball restaurant, a new house, and a cash prize of approximately $350,000. Additionally, Rahayu will receive five cows and a house from her local district.
• Hong Kong
  The Hong Kong Sports Institute offers substantial financial incentives to its athletes. Gold medalists in individual events at the Paris Games will receive $768,000, showcasing the institute's commitment to supporting top performers.
• Malaysia
  In Malaysia, Youth and Sports Minister Hannah Yeoh announced in February that Olympic podium finishers would be rewarded with a foreign-made car, thanks to an offer from an unnamed automaker. Yeoh also expressed a desire to involve local brands in recognizing Olympic medallists.
• Republic of Kazakhstan
  Kazakhstan has its own tiered system for rewarding Olympic athletes. Gold medalists are given three-room apartments, silver medalists receive two-room apartments, and bronze medalists get one-room apartments, all provided by the Ministry of Culture and Sports.
• Singapore
  Singapore's National Olympic Council offers a substantial "incentive scheme" for its athletes. Gold medalists in individual sports receive 1,000,000 Singapore dollars (approximately $744,000 USD), silver medalists earn around $372,000 USD, and bronze medalists are awarded about $186,000 USD.

Several other countries, including Italy, Morocco, and Estonia, have also pledged cash prizes for their Olympic medalists, underscoring the global recognition of athletic excellence. As the world gears up for the Paris Games, it’s clear that while the IOC may not provide prize money, national and private entities are stepping up to celebrate and reward their champions.