This article details standard incentives given to Olympic athletes for winning a medal either by their National Olympic Committee, the government of their country/territory, or both.
While the International Olympic Committee itself does not provide monetary rewards to Olympic medalists, many countries provide prize money to athletes for winning a medal at the Olympics. In countries such as Singapore and India elite sport enjoys heavy government involvement, and athletes are given high monetary rewards for winning Olympic medals as a means to promote a positive image of those nations on the international stage.
According to Forbes, only Great Britain, New Zealand, Norway and Sweden do not provide direct monetary incentives to their athletes for winning an Olympic medal (as of the 2020 Summer Olympics), although indirect funding is extensive.
Incentives by Country (USD equivalent in 2021)
Per country
Singapore
In the 1990s, the Singapore National Olympic Council (SNOC) under President Yeo Ning Hong instituted the Multi-Million Dollar Award Programme (MAP), an incentive scheme to reward athletes who win medals in major international tournaments, including the Olympics, for Singapore. The programme's name was changed to Major Games Award Programme (MAP) in 2018.
The largest prize money under the MAP is for athletes who clinch an Olympic gold medal. Those athletes who win multiple Olympic gold medals are entitled to more than S$1 million only for the first individual gold medal won at the Games.
The money, however, is taxable and the medal winner is obligated to make a donation back into the sport they are representing.
Philippines
Coaches of Filipino citizenship who personally trained medal-winning Filipino Olympians are also entitled to prize money (50% of the cash incentives for gold, silver and bronze medalists).
Prior to the RA 10699, standard government incentives were codified under the RA 9064 or the National Athletes, Coaches and Trainers Benefits and Incentives Act of 2001, which mandates a prize money of for Olympic gold medalists, for silver medalists and for bronze medalists.