FINA has announced it has raised the prize money awarded to winners of the overall World Cup titles ©Getty Images

The International Swimming Federation (FINA) has announced it has raised the prize money awarded to winners of the overall World Cup titles.

A total of $600,000 (£450,000/€511,000) will now be split across the top three in the men's and women's competitions.

The two athletes that finish in first place at the end of the World Cup campaign will receive $150,000 (£112,000/€128,000) each.

Second place will get $100,000 (£75,000/€85,000) and third place will receive $50,000 (£37,000/€42,000).

This is a significant improvement to figures announced at the start of the series, where only the overall winner was entitled to prize money.

For winning last year's women's and men's overall World Cup titles respectively, Hungarian star Katinka Hosszú and Russia's Vladimir Morozov received $100,000 in prize money.

The top eight men and eight women across each of the remaining clusters of events will now receive prize money, while only the first six were entitled to this before.

The second cluster of this year's FINA World Cup is about to begin ©Getty Images
The second cluster of this year's FINA World Cup is about to begin ©Getty Images

The new prize money distribution per cluster will amount to a total of $942,000 (£703,000/€802,000).

First will receive $50,000 with prize money filtering down to eighth place, who will collect $3,000 (£2,200/€2,500).

Following events in cluster one in Moscow, Berlin and Eindhoven, the World Cup series resumes in Hong Kong on September 30.

The event will conclude there on October 1 before moving to Doha between October 4 and 5.

Cluster three then begins in Beijing from November 10 to 11 before moving to Tokyo from November 14 to 15.

Singapore then hosts the third and final event of cluster three from November 18 to 19.