The Olympic Committee invests billions of dollars in the organizing of the Olympic Games, but the thousands of athletes who compete do not get monetary rewards from them. What they get is the hospitality, Olympics diploma, honor, and medals, if they perform excellently.
Countries reward their athletes monetarily for their efforts, Nigeria for example gives gold medalists $15,000, the USA pays $37,500, South African $37,000, and Singapore, as much as $744,000.
While some countries pay their athletes once for this feat, some countries choose to reward theirs for life.
Malaysia pays their gold medalists $241,000, silver medalist gets $72,200 while the Bronze medalists get $24,100. In addition to that, they pay a monthly salary to medalists for life. The gold medalists get $1,182, $709 for silver, and $473 for bronze.
Indonesia pays gold medalists 5 billion Indonesian Rupiah, which is about $346,000, but it doesn't end there. As per Jakarta Post, they also get 20 million Indonesian Rupiah monthly, this is about $1,400.
This European country doesn't give their medalists billions of Rupiah but as per EOK, the Estonian Olympic Committee, all Olympic winners earn a lifetime allowance of €4,600 or $5,500 per year. When they reach the retirement age, they get more support.
Should Nigeria imbibe this culture?
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