THE RELATIONSHIP BETWEEN ECONOMIC DEVELOPMENT, POPULATION, AND THE NUMBER OF MEDALS WON BY MAJOR COUNTRIES ACROSS CONTINENTS THROUGHOUT THE OLYMPICS

Abstract

Since its first edition in 1896, the Olympics have reflected global economic and social disparities, highlighting athletic skills and variations in Olympic success influenced by economic development and population size of countries. This study examines how GDP, population, and the number of sports impact the number of medals won, using historical data from the International Olympic Committee (IOC, 2024) and economic information from the World Bank and the International Monetary Fund (IMF, 2022). Descriptive analysis was used to understand the data distribution, including measures of central tendency (means) and dispersion (standard deviations), as well as the minimum and maximum values. Pearson correlations indicate associations between GDP and medals in North America and Oceania, and between medals and sports in South America. Multiple linear regression reveals that both GDP (β = 0.82) and the number of sports (β = 0.73) are significant predictors of the number of medals, explaining 53% and 66% of the variability, respectively. Results show significant regional variations, not only depending on economic factors but also on a combination of sports policies, cultural, and social factors. In South America, the positive correlation between GDP, sports, and medals highlights the crucial role of investments and sports policies. In Europe, performance is not strongly associated with GDP, suggesting the influence of sports traditions. In Oceania and North America, a high correlation between GDP and medals reinforces the importance of robust economies. The research suggests that Olympic success is influenced by a combination of economic factors, sports policies, and sports culture, in addition to economic development.