Which Countries Are Offering Their Athletes the Highest Prize Money at Tokyo Olympics 2020?

Published 08/01/2021, 6:15 AM EDT


After a year’s delay, the Tokyo Olympics finally got underway last week on Friday, July 23. Since the opening ceremony, millions across the world saw over 200 countries vie for medals in 33 different sports.

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While winning a medal at the global sporting spectacle means a lot to an athlete, it also instills pride in an entire nation. Along with the prestige of winning a medal, Olympic athletes also receive rewards of various kinds, with hefty cash prizes the most common among them.

Here are some countries which will provide the biggest cash prizes for their Olympic medalists in Tokyo.

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Singapore to award the biggest cash prizes for their medalists in the Tokyo Olympics

After seven days of competition, 76 countries have won at least one medal at the ongoing Games. Singapore is one country which doesn’t feature among those 76 so far. However, a Singaporean Olympian will receive the largest cash prize of any country should he/she win a medal.

Singapore will offer a whopping $737,000 for one of their country’s athletes winning a gold medal. While a silver medalist will take home $369,000, a bronze medalist will take $184,000.

Tokyo 2020 Olympics – The Tokyo 2020 Olympics Opening Ceremony – Olympic Stadium, Tokyo, Japan – July 23, 2021. Flagbearers Yu Mengyu of Singapore and Kean Yew Loh of Singapore lead their contingent in the athletes parade during the opening ceremony REUTERS/Phil Noble

Kazakhstan comes second in this list with sizeable cash prizes of their own. A gold medalist will earn $250,000, a silver medalist will earn $150,000 while a bronze medalist will earn $75,000. The country has won three bronze medals so far.

Italy and Malaysia share third place with a gold medalist taking home between $213,000 to $236,000, slightly less than a Kazakh gold medalist. A silver medalist will win between $71,000 to $107,000, while a bronze medalist will win between $24,000 to $71,000.

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India to offer larger cash prize than USA for Olympic medalists

India will offer $100,834 to a gold medalist, $53,778 to a silver medalist, and $33,611 to a bronze medalist at the Games. While weightlifter Mirabai Chanu clinched silver for India’s first medal this year, boxer Lovlina Borgohain will bring another medal to the subcontinent.

In contrast, Team USA ranks further down the list. An American gold medalist will take home $37,500, a silver medalist will take $22,500 and a bronze medalist will take $15,000.

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In fact, the host country Japan will offer larger sums of cash than the USA for their medal-winning athletes. A Japanese gold medalist will earn between $45,000 and $49,000, a silver medalist will earn between $18,000 and $29,000 while a bronze medalist will win between $9,000 and $20,000.

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With both countries very close in the overall medal tally, it remains to be seen which country spends more money on its medal-winning athletes after the Tokyo Olympics.

WATCH STORY: When Olympic Legends Usain Bolt, Michael Phelps, Serena Williams and Others Won Their First Gold Medals

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Sanket Nair

643 articles

Sanket Nair is an F1 Author at EssentiallySports. A Sports Management student, he is a huge fan of Sebastian Vettel and Daniel Ricciardo and hopes to see Red Bull break Mercedes' dominance and win the World Championship soon. Sanket has been hooked to the sport ever since he watched the battle for the 2010 World Championship go down to the wire at the Abu Dhabi Grand Prix.

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