Paris Olympics 2024: How Indian Olympic Rewards Compare Globally: Tokyo 2020 Vs. Paris 2024 Prize Money

The Olympics, renowned as the world's premier sporting event, offers athletes from around the globe a chance not only to make their nations proud but also to significantly boost their financial standing.

This holds true for athletes from both advanced nations and developing countries.

For instance, Neeraj Chopra, who clinched India's first Olympic gold medal in athletics at the Tokyo 2020 Summer Olympics, was awarded a cash prize of Rs 6 crore (USD 716,884). In contrast, U.S. athletes received approximately Rs 31,38,618 (USD 37,500) for each gold medal won at Tokyo 2020, nas reported by Firstpost.

Indian Athletes' Rewards Post-Tokyo 2020

Various Indian states generously rewarded their athletes for their Tokyo 2020 achievements:

• Neeraj Chopra (Gold in Javelin Throw), Haryana: Rs 6 crore
• Mirabai Chanu (Silver in Weightlifting), Manipur: Rs 1 crore
• Ravi Kumar Dahiya (Silver in Wrestling), Haryana: Rs 4 crore
• PV Sindhu (Bronze in Badminton), Telangana: Rs 30 lakh
• Lovlina Borgohain (Bronze in Boxing), Assam: Rs 1 crore
• Bajrang Punia (Bronze in Wrestling), Haryana: Rs 25 lakh

Prize money varies by state, and the Indian government also awarded:

• Gold Medal Winner: Rs 75 lakh
• Silver Medal Winner: Rs 50 lakh
• Bronze Medal Winner: Rs 30 lakh

Additionally, the Indian Olympic Association (IOA) gave:

• Gold Medal Winner: Rs 75 lakh
• Silver Medal Winner: Rs 40 lakh
• Bronze Medal Winner: Rs 25 lakh

The BCCI provided:

• Gold Medal Winner: Rs 1 crore
• Silver Medal Winners: Rs 50 lakh
• Bronze Medal Winners: Rs 25 lakh

Ed-tech firm BYJU'S contributed:

• Neeraj Chopra: Rs 2 crore
• Other Medal Winners: Rs 1 crore each

Private entities and state governments also offered jobs and other incentives. Indian athletes received significantly higher rewards compared to their counterparts from more developed nations.

Global Prize Money Comparison

Here's a look at the cash rewards given to medalists from 12 countries after the Tokyo Olympics, according to CNBC:
Here's the prize money awarded to Olympic medalists from various countries:

• Singapore: $737,000 for Gold, $369,000 for Silver, $184,000 for Bronze.
• Kazakhstan: $250,000 for Gold, $150,000 for Silver, $75,000 for Bronze.
• Malaysia: $236,000 for Gold, $71,000 for Silver, $24,000 for Bronze.
• Italy: $213,000 for Gold, $107,000 for Silver, $71,000 for Bronze.
• Philippines: $200,000 for Gold, $99,000 for Silver, $40,000 for Bronze.
• Hungary: $168,000 for Gold, $126,000 for Silver, $96,000 for Bronze.
• Brazil: $49,000 for Gold, $29,000 for Silver, $20,000 for Bronze.
• Japan: $45,000 for Gold, $18,000 for Silver, $9,000 for Bronze.
• USA: $37,500 for Gold, $22,500 for Silver, $15,000 for Bronze.
• South Africa: $37,000 for Gold, $19,000 for Silver, $7,000 for Bronze.
• Canada: $16,000 for Gold, $12,000 for Silver, $8,000 for Bronze.
• Australia: $15,000 for Gold, $11,000 for Silver, $7,000 for Bronze.

Why Do Advanced Nations Pay Less?

Athletes from countries like the USA, Canada, Great Britain, and Germany receive lower prize money compared to nations like Singapore or India due to differences in their sporting ecosystems, as reported by Firstpost. Advanced economies often have private investments supporting their athletes, resulting in higher lifetime earnings. Conversely, in countries like India, Olympic sports are primarily funded by government sources.

Other Sources of Income for Athletes

Besides Olympic prize money, athletes earn from:

• Continental and National Tournaments: Medals at these levels also come with cash rewards.
• Grants and Salaries: Provided by federations and government/private jobs.
• Sponsorship Deals: Popular athletes often earn significantly from endorsements.

Upcoming Paris Olympics 2024

Few world sporting bodies have announced cash rewards for the Paris Olympics. The World Athletics Federation will offer USD 50,000 (Rs 42 lakh) for gold medalists in track and field events, while the International Boxing Association will award USD 100,000 (Rs 84 lakh) for gold medallists across events. Cash prizes for silver and bronze winners will be introduced from the 2028 Los Angeles Olympics.

The Indian Olympic Association (IOA) has announced an increased cash reward for Paris 2024:

• Gold Medal Winner: Rs 1 crore
• Silver Medal Winner: Rs 75 lakh
• Bronze Medal Winner: Rs 50 lakh

The rewards from the organizers remain limited to bouquets and medals, with cash prizes typically coming from national sources.