© Getty Images

No prizes given -

There are only four competing nations that don’t give any incentives to their athletes: Great Britain, New Zealand, Norway, and Sweden. To their benefit, however, Great Britain does give an annual stipend of US$36,000 to each athlete, regardless of whether they win gold, silver, or bronze.

© Getty Images

15. Spain -

We kick off the list with the country of Spain, which has been known to give US$102,000 to athletes who win gold at the Olympics. However, this is only for individual sports, since members of two-person teams only receive about $82,000, and bigger groups receive only about $52,000 each.

© Getty Images

15. Spain -

Spain’s most prominent Olympic event is sailing, where it has achieved significant success, particularly in the 1992 Barcelona Olympics. Spain’s athletes truly excel in water sports, and sailing remains a proud highlight of their Olympic history.

© Getty Images

14. Czech Republic -

The Czech Republic gifts about US$103,000 to their gold medalists, although the country has only achieved the award 29 times in its history at the Olympics.

© Getty Images

14. Czech Republic -

The Czech Republic is renowned for its prowess in canoeing and kayaking, with Czech athletes frequently reaching the podium in these events. Indeed, canoe slalom and sprint have brought the Czech Republic numerous Olympic successes.

© Getty Images

13. Estonia -

The Baltic country of Estonia arrives in 13th place with an incentive of US$109,000 for gold medalists, although that isn’t where the reward ends. Athletes who win gold also get monthly stipends amounting to about $7,000 for two years.

© Getty Images

13. Estonia -

Wrestling stands out as Estonia’s most prominent Olympic event. Estonian wrestlers have a storied history of success, consistently performing well and securing medals thanks to their strength and technique.

© Getty Images

12. Kosovo -

In Kosovo, gold medalists receive bonuses from the country’s sports ministry and also its national Olympic committee, amounting to about US$120,000. What's more, the sports ministry will award an additional US$218,000 to any athlete who sets a world record in an individual sport.

© Getty Images

12. Kosovo -

Although Kosovo has not won a lot of medals over the years, their most prominent event is women's judo, particularly due to Majlinda Kelmendi, who won the country's first-ever Olympic gold medal in 2016.

© Getty Images

11. Ukraine -

At the 2020 Tokyo Olympics, 29 athletes managed to receive medals on behalf of Ukraine, although only one of them was gold, which was awarded to Zhan Beleniuk for wrestling. His prize was a hefty incentive of US$125,000.

© Getty Images

11. Ukraine -

Over the years, Ukraine has seen much success in the world of gymnastics. Ukrainian gymnasts have a rich history of winning medals, particularly in artistic gymnastics. Their performances have consistently placed Ukraine among the top contenders.

© Getty Images

10. Bulgaria -

Bulgaria’s gold medalists are set to receive US$139,000 for their achievement. At the 2020 Summer Olympics, only three athletes were able to take home gold medals.

© Getty Images

10. Bulgaria -

Weightlifting is Bulgaria’s most prominent Olympic event, where Bulgarian athletes have excelled and garnered numerous medals. Aside from that, wrestling has also earned the country many coveted awards.

© Getty Images

9. Hungary -

Although Hungary offers a rather generous incentive of US$154,000 to gold medalists, the country also has a rather generous offering of $110,000 for athletes who achieve silver, and $88,000 for those who win bronze.

© Getty Images

9. Hungary -

Hungary has an impressive track record in the water polo event, and the Hungarian water polo team is one of the most successful in Olympic history, consistently winning medals and maintaining a tradition of excellence.

© Getty Images

8. Latvia -

Latvia awards US$155,000 to any athlete who wins a gold medal, but they also generously offer 60% of the previous mark to any athletes in descending places, all the way down to sixth place.

© Getty Images

8. Latvia -

In the Summer Olympics, Latvia is particularly known for its success in cycling, although they haven’t garnered many medals over the years. In fact, the last time the country received a medal for the event was at the 2012 London Olympics.

© Getty Images

7. Moldova -

Even if an athlete wins eighth place as a representative of Moldova, they would be awarded roughly US$11,000. But this doesn’t even begin to compare to the nation’s gold medal inventive of $171,000.

© Getty Images

7. Moldova -

Moldova’s success in previous Olympic Games has been scattered and minimal, winning only bronze and silver medals in various categories. These range from wrestling to boxing and even canoeing.

© Getty Images

6. Lithuania -

Lithuania offers an incentive of US$182,000 to gold medalists. These aren’t the only benefits, however, as Lithuania willingly pays rent for all its medalists after they retire from their athletic careers.

© Getty Images

6. Lithuania -

Lithuania is renowned for its success in basketball and has consistently won medals in the event, although none of them have been gold. Lithuania’s gold medals have mostly been attributed to athletics.

© Getty Images

5. Italy -

Regardless of whether an athlete competes in an individual or team event, winning gold under the Italian banner will earn each athlete US$196,000. It seems to be a great incentive, considering Italy won 10 gold medals at the 2020 Tokyo Olympics.

© Getty Images

5. Italy -

Italy has a remarkable Olympic history in fencing, having already achieved more than a hundred medals overall in the event, while cycling is the nation’s second-most successful.

© Getty Images

4. Malaysia -

Athletes representing Malaysia receive a much wider payout from their government than other nations. Gold medalists can earn US$214,000 for their achievement, while silver medalists receive 25% of that figure, and bronze medalists receive only 10%.

© Getty Images

4. Malaysia -

Over the course of its Olympic history, Malaysia has only won medals in badminton, cycling, and diving. Badminton is the country’s most successful event, although the nation is yet to win a gold medal.

© Getty Images

3. Serbia -

In third place is Serbia, which provides multiple benefits for their gold medal athletes on top of the existing cash bonus of US$218,000. Athletes who claim gold, silver, or bronze are also eligible to receive a national pension that kicks in at age 40, paid out monthly.

© Getty Images

3. Serbia -

Over the years, Serbia has seen success in both taekwondo and water polo.

© Getty Images

2. Israel -

Aside from the US$275,000 cash prize awarded to Israeli gold medalists, silver medalists receive roughly $192,000 and bronze is awarded $137,000.

© Getty Images

2. Israel -

Judo is Israel’s most prominent Olympic event, with Israeli judokas frequently achieving success and securing medals, although the nation has yet to secure gold in this sport. The country has been able to achieve gold in sailing, however, as well as gymnastics.

© Getty Images

1. Hong Kong -

First place on the list goes to Hong Kong, which awards a whopping US$768,000 to gold medalists, although this feat has only been accomplished twice in the nation’s history. This prize is more than the combined total of the previous three countries on this list!

© Getty Images

1. Hong Kong -

The most prominent Olympic event for Hong Kong is fencing, particularly men’s foil. But aside from fencing, the nation has also achieved success in sailing, especially after Lee Lai-shan won the country’s first-ever gold medal at the 1996 Atlanta Olympics.

© Getty Images

US and Brazil - Brazil and the United States are not among the countries that pay the most for each medal athletes bring home, but the rewards from both countries are not bad at all.

© Getty Images

Simone Biles -

According to Forbes, for a gold medal, each US athlete received US$37,500. Silver medals are worth $22,500, and bronze medals are worth $15,000.

Biles left Paris with 4 medals: 3 gold and 1 silver. In total, she received US$135,000.

© Reuters

Rebeca Andrade -

According to ESPN Brazil, for a gold medal, each Brazilian athlete received US$64,200. Silver medals are worth US$38,500 for individual sports and US$77,100 for team sports (dividing the prizing between the athletes), and bronze medals are worth US$25,700.

Andrade left Paris with 4 medals: 1 gold, 2 silver (one individual and one team). and 1 bronze. In total, she received US$151,600.

© Getty Images

Simone Biles -

Of course, this comparison only accounts for the medal prizes and does not take into consideration the athletes' salaries or sponsorship deals.

Simone Biles is the most decorated gymnast in US history, and you can just imagine how much money she's earned over the years.

Sources: (Forbes) (GiveMeSport) (Olympics)

See also: The most impressive images from this year’s Olympic Games (so far)

© Getty Images