Analysis by The Economist found that share of world GDP was the single biggest factor in determining Olympic success
CERTAIN COUNTRIES seem to have a knack for success at particular sports. Australia excels at swimming, Brazil at beach volleyball, Cuba at boxing and Britain at sailing. The Olympic games, with its hundreds of medal events across myriad sporting disciplines, is a test of countries’ all-round sporting prowess. The 32nd Olympic games in Tokyo ended on August 8th with American athletes taking home more medals than any other country.
Some countries overperform at the Olympics relative to their economic output. Among the 71 countries that have won more than 10 Olympic medals since 1992, each gold medal cost the equivalent of $120m of GDP . American gold medals cost nearly double the average, at about $200m of GDP. Jamaica does best: each gold medal won by one of its athletes is equivalent to about $3m of its economic output.
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