"Across the board we are seeing tremendous growth in our premier series – from spectators to participants to sponsors to broadcast partners and now with prize money for our elite athletes," said ITU President Marisol Casado (pictured).

"On the back [of] this growth, 2012 is poised to be the greatest and most exciting triathlon season to date."

The prize money for each race during the series will be $170,000 (£107,000/€129,000), apart from the final event in Auckland, New Zealand, for which $270,000 (£170,000/€205,000) is on offer.

Prize money will be offered all the way down to 20th place, rather than 15th as was the case last year.

An additional $600,000 (£379,000/€456,000) is on offer at the end of the year's bonus pool, which will be paid to the top 30 ranked men and women.

The triathlete that finishes top of the rankings will take $60,000 (£38,000/€46,000) in addition to the prestigious crown of World Champion.

The ITU World Triathlon Series gets underway on April 14 to 15 in Sydney before visiting San Diego, Madrid, Kitzbühel, Hamburg, Lausanne and Yokohama before the final race in Auckland on October 20 and 21.

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