The Philippines, with a gold medal incentive set at P10 million, stands among the countries offering the highest payouts for Olympic medalists, including at the 2024 Paris Games.
Globally, the Philippines ranks 12th, 9th in Asia, and 4th in Southeast Asia in terms of medal incentives.
Hong Kong and Singapore lead the world, offering $768,000 (P44.7 million)and $745,000 (P43.3 million) respectively for Olympic gold medalists. Taipei follows in third place with $720,000, and Thailand is fourth at $365,000. Israel ranks sixth globally, providing $271,000 for a gold medal.
Since the Tokyo Olympics, most countries’ incentives for medal winners have remained stable. However, Hong Kong has increased its payout by 20% over the last three years, according to CNBC.com.
The Philippines offers P10 million for a gold medal, P5 million for a silver, and P2 million for a bronze. Peter Atencio
In contrast, powerhouse nations like the United States offer $37,500 for a gold medal, and host country France will reward its top athletes with $87,000. The United Kingdom does not provide direct monetary rewards for medal winners but offers annual incentives of $36,000 for podium finishers.
