Egypt’s Olympic Committee and Ministry of Youth and Sports have announced a significant increase in financial rewards for medalists in the Paris 2024 Olympics.
This decision comes after recent successes by Egyptian athletes, such as Ahmed Elgendy’s gold in the modern pentathlon, Sara Samir’s silver in weightlifting, and Mohamed Elsayed’s bronze in fencing, as reported by Egyptian Streets.
The new rewards are set at EGP 5 million (approximately USD 318,636) for gold, EGP 4 million (approximately USD 254,908) for silver, and EGP 3 million (approximately USD 191,181) for bronze.
Moreover, each medalist will receive an immediate bonus of EUR 1,000 (EGP 53,478) along with a luxury wristwatch. This move is part of Egypt’s broader strategy to incentivize and support its athletes in their pursuit of Olympic success.
Olympic athletes are often rewarded with cash and additional gifts from their countries. For instance, Saudi Arabia promises athletes SAR 5 million (USD 1.33 million) if they win a medal, marking the Olympics’ largest payout. Singapore and Hong Kong also offer cash prizes of over USD 700,000 to gold medalists.
In comparison, the United States, which holds the current record for most Olympic medals, rewards gold medalists with USD 38,000.
