Intense preparation, training, and discipline are required for Olympic athletes. But have you ever wondered what kind of incentives Filipino athletes might receive upon winning at the most prestigious global sports competition?
In addition to vying for medals, competing on the global stage offers athletes the chance to represent their country and elevate their careers.
However, the recognition doesn’t stop with the competition; these dedicated athletes can look forward to additional rewards when they return to their home country.
Cash incentives for athletes
Athletes representing the Philippines in international sports competitions are eligible for cash incentives upon winning gold, silver, or bronze medals.
According to the Republic Act 10699 or The National Athletes and Coaches Benefits and Incentives Act, Olympic gold medalists are entitled to receive P10 million.
In addition, silver medalists will receive P5 million from the government, while bronze medalists will be awarded with P2 million.
House and lot
The Philippine Olympic Committee (POC) has also pledged to award a house and lot to athletes who win gold medals at the ongoing 2024 Paris Olympics.
“If I gave houses and lots to the medalists in the Tokyo Olympics, why can’t and won’t do it again for Paris,” said POC president Abraham ‘Bambol’ Tolentino.
“Our gold medalist, one or more, in Paris fully deserves this reward for their hard work, dedication and love for sport and country,” he added.
During the 2020 Tokyo Olympics, the POC rewarded gold medalist Hidilyn Diaz, silver medalists Nesthy Petecio and Carlo Paalam, and bronze medalist Eumir Marcial with house and lot in Tagaytay.
On top of these, winning athletes may also receive rewards from other government and private individuals and institutions.
In the last Olympic Games, Diaz received more than P35 million cash along with the pledges from other personalities.
How other countries reward their athletes
Rewards and incentives for Olympians also vary by country. Given these incentives from the Philippines, let’s take a look at how others reward their athletes.
For Thailand, the Thai Olympic Committee announced prize money ranging from 10 to 4 million baht for medalists.
Thai athletes competing in the Olympic Games will receive 10 million baht (around P16 million) for winning the gold medal, 6 million baht (around P9.7 million) for silver, and 4 million baht (around P6.5 million) for bronze.
Meanwhile, Hong Kong is even more generous, rewarding not only athletes who will clinch the top three spots, but even those until the 8th place.
Gold medalists will receive a cash incentive of HK$6 million (around P45 million), while silver and bronze medalists will receive HK$3 million (around P22 million) and HK$1.5 million (around P11 million), respectively.
Those who ranked 4th place will also be rewarded with HK$750,000 (around P5.6 million) while HK$375,000 (around P2.8 million) will be given to athletes ranking 5th to 8th.
On the other hand, the winning athletes of Team USA will be rewarded by the U.S. Olympic and Paralympic Committee. For gold medalists, $37,500 (around P2.2 million) will be provided, while $22,500 (around P1.3 million) for silver and $15,000 (around P800,000) for bronze.
Historically, the International Olympic Committee does not offer monetary rewards to winning athletes. Instead, compensation for their achievements is determined by the policies of their respective countries.
This year, 22 Filipinos are representing the country in the 2024 Paris Olympics. Do you think these rewards are enough to match the hard work and dedication our athletes put in?
