For years, many have wowed at the S$1mil carrot Singapore dangles for its athletes to score gold at the Olympics.

To date, Singapore’s only athlete to have received the cash bonus is swimmer Joseph Schooling, who won the 100m butterfly at the Rio 2016 Olympics.

For Singaporean athletes who score silver and bronze, S$500K and S$250K is offered respectively.

This also means our country beat out Hong Kong, Malaysia, and Kazakhstan in the amount of money offered.

Hong Kong is standing by HK$5mil (S$861K) per gold medallist.

The Republic of Kazakhstan, on the other hand, is also providing new apartment units for all medal winners in addition to US$250K (S$330K) for gold medallists.

Besides offering $1.1mil ringgit (S$320K) per gold medal, Malaysia’s Youth and Sports Minister Hannah Yeoh announced in February that all athletes who score a podium finish in Paris will also be rewarded with a "foreign-made car".

In addition to 5.6bil rupiah (S$470K), and new homes, Indonesia gave five cows, and a meatball restaurant to badminton players Greysia Polii and Apriyani Rahayu after they scored their gold medals at Tokyo 2020.

Photos: World Population Review, josephschooling/IG, Olympics.com

The Paris 2024 Olympics will run from July 26 to August 11.