President Ferdinand “Bongbong” Marcos Jr. bestowed the Presidential Medal of Merit upon gymnast Carlos Yulo, acknowledging his historic achievement as the Philippines’ first Olympic double gold medalist. Alongside this prestigious honor, Yulo, aged 24, received a hefty ₱20 million cash incentive from the Office of the President.
This substantial reward comes in addition to the ₱20 million Yulo is entitled to under Republic Act 10699, which allocates ₱10 million for each Olympic gold medal. The combined ₱40 million underscores the nation’s profound appreciation for Yulo’s dedication and excellence.
“Recognizing all our athletes is paramount,” President Marcos remarked, seamlessly blending Filipino and English. “Qualifying for the Olympics is no small feat, regardless of where you’re from. It’s an extraordinary accomplishment.”
Boxers Aira Villegas and Nesthy Petecio, who clinched bronze medals, were also celebrated. Each received ₱2 million from the Office of the President, supplementing the ₱2 million they are set to obtain under existing legislation. Moreover, both athletes, alongside Yulo, were granted amity cards from the Movie and Television Review and Classification Board, valid until June 2025, and travel tax exemptions extending until June 2028.
The broader Philippine Olympic delegation wasn’t overlooked. The remaining 22 athletes each received ₱1 million, while their dedicated coaches were awarded ₱500,000 apiece. President Marcos candidly acknowledged the limitations of these rewards, stating, “I apologize if it is just a small amount. I know that ₱1 million is small compared to your sacrifices and the challenges you’ve faced. But for now, this is what we can offer.”
The 2024 Paris Olympics marked a centennial milestone for the Philippines in Olympic participation. Celebrating its best-ever performance, the nation secured multiple gold medals in a single edition for the first time and matched its highest medal tally in history. Finishing tied with Hong Kong for 37th place, this represented the Philippines’ highest Olympic ranking since 1964, solidifying its status as Southeast Asia’s top-performing nation.
Looking ahead, President Marcos emphasized his commitment to enhancing the country’s sports infrastructure and support systems. “Consider that all these athletes, who’ve made us immensely proud, achieved their feats without formal technical support from the government,” he noted. “While assistance was occasionally provided, there’s a pressing need for a structured system to support our athletes. That’s what we’re aiming to establish now.”
In a heartfelt appeal, he concluded, “I ask all of you to tell us what you need.”
The ceremony not only celebrated individual achievements but also highlighted a renewed commitment to nurturing athletic talent across the Philippines. As the nation basks in Olympic glory, steps are being taken to ensure sustained support and development for its athletes, promising a brighter future for Philippine sports.