Relationship between a success at the Olympic Games and socioeconomic factors

How does an achievement at the Olympic Games (OG) relate to socioeconomic situation of the National Olympic Committees (NOCs)? The research sample consisted of 2232 participations of the NOCs at OG 1992 – 2022 (both summer (SOG) and winter (WOG) ones). As dependent variables were chosen following indicators of success (IoS): overall ranking (OR), number of golden medals won (nGM), number of medals won (nM), number of points (nP). As independent variables were selected following factors: number of athletes of NOC (nA), GDP, population (PO), GDP per capita (GDPpc). To assess significance of correlation, Spearman’s correlation coefficient (rs). All IoS significantly correlate with all selected independent variables (p < 0.01). The strongest determinant of success seems to be nA, by which we can potentially explain more than 60% of nM (rs = 0.779). Significant and mostly middle dependence was found between IoS and PO (rs = 0.385 – 0.440; p < 0.01). Stronger determinant than PO, but still with middle dependence, is GDP (rs = 0.544 – 0.635; p < 0.01). By GDP we can potentially explain 53% of (nA) and more than 30% of nM. Significant, but only low dependence was found between IoS and GDPpc (rs = 0.284 – 0.359; p < 0.01). All IoS and socioeconomical variables show higher correlations at SOG, except of GDPpc, which has potentially higher influence at WOG.