Egypt’s Olympic Committee and Ministry of Youth and Sports significantly increased financial rewards for medalists in the Paris 2024 Olympics, a joint social media statement announced on 11 August.
“The rewards are now EGP 5 million (USD 101,636) for gold, EGP 4 million (USD 81,308) for silver, EGP 3 million (USD 60,981) for bronze,” the statement reads. “Additionally, each medal winner will be granted an immediate bonus of EUR 1,000 (EGP 53,478) and a luxury wristwatch.”
The decision follows recent successes by Egyptian athletes, including Ahmed Elgendy’s gold in the modern pentathlon, Sara Samir’s silver in weightlifting, and Mohamed Elsayed’s bronze in fencing.
Egypt increased incentives as part of a broader strategy to encourage and support its athletes in their pursuit of obtaining Olympic glory.
Rewarding Olympic athletes is a common practice worldwide, often through cash and additional gifts.
Neighboring Saudi Arabia promises athletes SAR 5 million (USD 1.33 million) if they clinch a medal — the single largest payout in Olympic history. This is followed by Singapore and Hong Kong, who reward gold medalists with a cash prize of over USD 700,000.
The United States, which holds the current record for most Olympic medals, gifts gold medalists USD 38,000, in comparison.
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