The following is the estimated compensation for certain athletes based on data compiled by CNBC from national Paralympic committees, sports associations and local reports:
The Canadian Paralympic Committee said earlier this year that medalists will receive the same monetary bonuses for finishing on the podium as their Olympic counterparts: C$20,000 ($14,786 for gold, C$15,000 for silver and C$10,000 for bronze). Bonuses for Paralympic medals are provided by the host country, France, in an amount comparable to that for Olympic medalists.
Read also: MTV VMAs 2024: Venue, date, time, artists, live stream, how to vote for your favorites and everything you need to know
Spain is also offering the same amount. The same cash bonuses that Olympic medalists receive are now awarded to Paralympic athletes: 94,000 euros ($105,312) for gold medalists, 48,000 euros for silver medalists and 30,000 euros for bronze medalists. This is due to a recent subsidy.
Malaysia’s Paralympic medallists will receive a cash prize of 1 million ringgit ($228,623) for gold, 300,000 ringgit for silver and 100,000 ringgit for bronze. Since 2016, the Southeast Asian nation has awarded Paralympic medallists the same prizes as their Olympic counterparts. According to the Malaysian Paralympic Council president, three external companies are providing additional cash bonuses of up to 60,000 ringgit for gold medallists, 30,000 ringgit for silver medallists and 15,000 ringgit for bronze medallists.
The Japan Parasports Association will give Japan’s Paralympic gold medalists 3 million yen ($20,780), less than the 5 million yen that the Japan Olympic Committee gives to Olympic gold medalists. The payments for Paralympic silver and bronze medalists will be 2 million yen and 1 million yen respectively, which is equal to the payments to their Olympic counterparts.
Read also: Monsieur Spade: Is the detective show a sequel to 1941’s ‘The Maltese Falcon’?
Hong Kong and Singapore award significantly smaller prizes to their Paralympic winners compared to their Olympic counterparts. Gold medallists receive HK$750,000, while silver and bronze medallists receive HK$375,000. The disparity in prize money was raised in Singapore’s parliament in 2016.
Frequently Asked Questions
Do all nations give medals to the winners of the Olympic Games and Paralympic Games the same amount of money?
No, while some countries, such as Singapore and Hong Kong, offer equal monetary bonuses to Paralympic and Olympic medallists, others, such as Canada, France and Malaysia, offer much lower compensation for Paralympic success than for Olympic success.
Why do Olympic and Paralympic medalists receive different amounts of money?
The difference often occurs because different organisations within a country decide how much prize money Olympic and Paralympic athletes receive. Athletes may receive different amounts of financial support from these organisations depending on their sources of funding and sponsorship.
Disclaimer: This content is the work of a third party. The views expressed here are those of the respective authors/entities and do not represent the views of Economic Times (ET). ET does not guarantee, endorse or support any of its contents nor is it responsible for them in any manner. Please take all necessary steps to ensure that the information and content provided is correct, up-to-date and verified. ET hereby disclaims any and all warranties, express or implied, relating to the report and any content contained therein.
Disclaimer:
The information contained in this post is for general information purposes only. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.
We respect the intellectual property rights of content creators. If you are the owner of any material featured on our website and have concerns about its use, please contact us. We are committed to addressing any copyright issues promptly and will remove any material within 2 days of receiving a request from the rightful owner.