The value of an Olympic medal – the costs to the Israeli State of bringing an athlete to the Olympics, and what is the importance of this achievement – was discussed at the seminar organised on June 22, “the Olympic Day”, by the Olympic Committee of Israel in cooperation with the Olympic Academic Studies Centre at the Zineman College of the Wingate Institute.

The Seminar was opened by NOC president Igal Carmi, and was attended by CEO Gilad Lustig, Prof Ronnie Lidor, President of the Academic College at Wingate, Prof Oded Lowengart, Dean of Faculty of Business and Management, Ben-Gurion University of the Negev, and other Israeli experts and guests from abroad from the sports and academic world.

The panel of experts calculated that an athlete who wins an Olympic Medal is estimated at an average of $ 1 million for an Olympic campaign.

The seminar was divided into sessions during which other subjects were discussed; such as: the value of an Olympic medal in light of the changes in global sports; links between diplomacy and sports; international economic models for determining the value of an Olympic medal; and a panel discussing on the nominal cost of winning an Olympic medal.

The International Olympic Day is included in the Israeli NOC’s Olympism programme, and aims to educate younger generations in Olympic values, and how sports can help build a better tomorrow.

On this subject, President Carmi said: “We see the Olympism project as a way of spreading the Olympic ideals and values and building a better world through sports. We all hope that our activities to spread the Olympic ideals and values will affect the younger generations.”

Honorary guest Dr. Sylvia Barlag, Council Member of the International Association of Athletics Federations and Olympic athlete who represented the Netherlands at the 1980 Moscow Olympic Games, lectured on “The Value of the Olympic Medal in Light of Changes in Global Sports”, stating that: “There are countries that achieve lots of medals regardless of the amount they have invested in Olympic Sports. It’s all about their management and work strategy. Denmark, Holland and Spain invest less money relatively to other countries and achieve many medals. In contrast, countries such as Korea, Brazil and Canada invest a lot of money relatively and win a few medals.”