Rewarding Olympic Excellence: A Comparison of Athletes' Incentives
Government Incentives and Corporate Sponsorships
Prior to the enactment of Republic Act 10699, government incentives for athletes in the Philippines were primarily codified under Republic Act 9064, also known as the "Sport Development Program of the Philippines."
In addition to government incentives, corporate sponsorships play a significant role in the financial rewards received by Olympic athletes.
International Olympic Committee and National Olympic Committees
The International Olympic Committee (IOC) does not offer direct monetary rewards to athletes. However, the IOC provides National Olympic Committees (NOCs) with funding to support athlete preparation and participation in the Olympic Games.
NOCs, in turn, use this funding and additional revenue sources to provide financial assistance to their athletes, including travel expenses, training costs, and performance bonuses.
Cash Rewards for Medalists
Many countries offer cash rewards to their athletes for winning Olympic medals. These rewards vary widely depending on the country and medal won.
For example, the United States Olympic and Paralympic Committee pays $37,500 for each gold medal won by Team USA athletes, $22,500 for silver, and $15,000 for bronze.
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