10 Countries With The Highest Winter Olympic Winners' Incentives
For the athletes, making it to the Olympics is a dream in itself; it is more than earning a shot at glory rather than boosting the balance of their banks. After all, there are plenty of other avenues for the medal winners to profit off from their success. However there are numerous countries who give out incentives to their gold medalist which set the athlete for life. Among the most generation government is Turkey who gives out gold coin as incentive. Among the list of countries who give out generous pay out to medal winners for Winter Olympics are as follows.
10 Kosovo
Being a newcomer into the Olympic scene, Kosovo seems to want their Olympians to be competitive. Kosovo is just at its second Winter games with their two skiers, Albin Tahiri and Kiana Kryeziu. The Ministry of Culture, Youth and Sport for Kosovo has announced that they will pay around $112,000 for each individual who takes home a gold medal. They will also be awarded another $112,000 from the government if they have shown an Olympic-record performance.
9 Lithuania
The government of Lithuania anchors the medal bonuses of their country to the basic social benefit for the gold medalists. There will be a monthly amount which will be used in the various social security calculations. The current Beijing Olympians will be entitled to around $143,000 if they ever took home the gold medal for their country. Their incentive system is based on the place the Olympians landed on, the eight place contender will receive around $7,000.
8 Bulgaria
The Winter Olympic contenders from Bulgaria are entitled to receive around the same amount from the gold medalist from Lithuania if they ever take home the gold medal for their country as well. The government of Bulgaria also pledges around $143,000 for the Olympians who will take home the gold medal.
7 Hungary
The Winter Olympians from Hungary will receive a little higher amount of winnings from their government than the gold medalist from Bulgaria. The government of Hungary pledges around $156,000 incentive for the athletes who will be able to bring home Gold Medals. Just like other countries, they have incentives for other medalists as well; a bronze medalist will receive around $89,000, while the silver medalists will receive around $111,000.
6 Latvia
Latvia will generously pay their athlete if they ever win the gold medal. Although for Latvia, there is no set amount to be given, the amount will be based on the government’s current yearly budget. Basing on the budget of Latvia for this year, the Gold medal bonus for the Winter Olympians from Latvia is around $159,000, and the teams that will win gold will take home around $477,000. The bonuses for the athletes for Latvia are only extended until the sixth place winners.
5 Cyprus
Cyprus may be a tiny country but they have been competing at every Winter Olympics since they joined in 1980. While their country has never claimed any medal on the Winter Olympics, the Cyprus Sports Organization has extended their bonus program for athletes placing until the top 16. The 16th place on the Winter Olympics will get around $11,000 while the bronze medalist will take home $123,000, silver medalist on the other hand will receive $140,000 and the gold medalist will receive $168,000.
4 Italy
With last year’s Tokyo Summer Games, Italy was a power contender with their Olympian when they finished being the seventh when it comes to the total medal count of 40. They were also a strong contended when they finished at 13th place at the previous Winter Olympics held in Pyeongchang in 2018. This result can be attributed to their reward system for the athletes. The Italian government is willing to pay around $71,000 for the bronze medalist, $106,000 for the silver medalist and $212,000 for the gold medalist. It was reported that Italian government have shelled out around $9 million in incentives last Tokyo Olympics.
3 Malaysia
Malaysia is also a newcomer to the Winter Games as this is only the second time they will be entering the competition. They are currently being represented by skiers Jeffrey Webb and Aruwin Salehhuddin. Though this is only the second time they are entering the competition, they want to take home the highest medal and to motivate their Olympians, they are offering about $238,000 for the gold medalist.
2 Turkey
Just like other countries, Turkey likes to motivate their Olympians through an incentive system however instead of money, they are offering a 22-karat-gold coin for the first-place finisher. The The 22-karat-gold coin incentive for the gold medalist is estimated to be around $383,000 if sold. gold medalists will also be able to secure a monthly pension which equals twice the net minimum wage. The
1 Hong Kong
Hong Kong was not able to capture any medal in their last five Winter Olympic appearances, as a result of this they are eager to motivate their Olympians the best they can. For this reason, they are giving out the highest amount of bonus for gold medalist in the Winter Olympics with around $642,000 incentive for the first place finisher. On top of the huge amount of money waiting for the gold medalist, they will also receive a gold prize equivalent to around $1,900.
Sources: Forbes, SCMP, Business Insiderm, USA Today
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