TAIPEI (Taiwan News) — Taiwanese athletes can receive up to NT$20 million (US$608,700) for winning an Olympic medal, and counties and cities are providing additional prize money to encourage athletes in their sport.
According to Taiwan’s medal awarding system, each athlete can receive a bonus of NT$20 million for winning an Olympic gold medal, NT$7 million (US$213,000) for a silver medal, and NT$5 million (US$152,000) for a bronze medal. Popular sports such as swimming, track and field, and gymnastics can be awarded 1.5 times the current bonus, per CNA.
International Olympic Committee (IOC) President Thomas Bach said it is common practice for athletes to receive prize money from the National Olympic Committees (NOCs), government bodies, or sponsors. The U.S. Olympic & Paralympic Committee (USOPC) reportedly awards its athletes US$37,500 for winning gold, US$22,500 for silver and US$15,000 for bronze.
Bach said the NOCs and International Federations (IFs), who are “the primary beneficiaries of the commercial success of the games,” should use the money to support athletes to perform at their best. These prizes can be crucial for athletes from certain countries, who must spend their own money on training and competition.
To encourage athletes to strive in their fields, counties and cities in Taiwan are providing additional bonuses. Among them, the highest is NT$3 million in Taichung City and Kinmen County.
In Taipei, athletes can receive a 10% increase of the national bonus, up to NT$2 million. Those who place in the top eight can also apply for a two-year training subsidy, which is NT$30,500 per month for individual athletes and NT$20,800 per month for team athletes.
In New Taipei, the sports bureau said the top eight registered players will also receive an additional 10% of the national bonus and a daily training subsidy of NT$25,000 per month for two years.
In Taoyuan City, nine athletes will compete in badminton, track and field, shooting, archery, table tennis, and golf. The top eight will receive bonuses ranging from NT$200,000 to NT$2 million.
In Taichung, Sports Director Li Yurui (李昱叡) said athletes will receive gold medal bonuses of NT$3 million, silver medal bonuses of NT$2 million, and bronze medal bonuses of NT$1 million. Fourth place will receive NT$500,000, fifth place will get NT$400,000, and sixth place will get NT$300,000, while regardless of individual or group events, another NT$50,000 in competition bonuses will be issued.
In Tainan, the top six athletes in the individual competition will receive bonuses from NT$20,000 to NT$300,000. In Kaohsiung, the top six players in the individual competition will receive bonuses from NT$150,000 to NT$2 million.
In Kinmen County, the top six in the team competition, the top eight in the pairs competition, and the top eight in the individual competition will receive bonuses from NT$400,000 to NT$3 million.
