An analysis by the Peterson Institute for International Economics (PIIE) revealed that factors such as GDP per capita, population size, host country, average years of schooling and educational achievements for women, among others, influence Olympic medals.
According to the medal ranking published by the Mexican Center for International Relations (Cemeri) which includes all the Summer and Winter Olympics up to 2018, Mexico ranks fourth in Latin America, despite the fact that, according to World Bank data, its per capita GDP that competes with The better off countries.
Cuba ranked first among the countries in the region with the most Olympic medals, with 78 gold, 68 silver, and 80 bronze, while having a per capita GDP of $9999.
It was followed by Brazil, a country with a per capita GDP of $6,796, which has 30 gold, 36 silver, and 63 bronze medals.
Argentina ranked third with 21 gold, 25 silver and 28 bronze medals, and a per capita GDP of $8442.
Mexico came fourth with 13 gold, 24 silver, 32 bronze and a per capita GDP of $8,347.
However, the Foundation emphasized that these achievements in Latin American countries are insignificant when compared to powers such as the United States, which has won 2,828 medals throughout its history, or the United Kingdom, which has done the same, with 1,120 medals going up to the present.
Tokyo, with a neutral effect
The Olympics, which opens today in Tokyo, Japan, will have a neutral economic impact on the venue, Goldman Sachs warned, due to the outbreak of new variables and the country’s vaccination process.
Naohiko Baba, the company’s chief Japanese economist, said in an interview with CNBC that Japan’s gross domestic product could rise only 0.2 percent due to the sporting event.
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