The Dubai International Open Chess is looking at increasing its prize fund to $90,000 (Dh 331,000) in the near future.
Ebrahim Al Bannai, President of the Dubai Chess Club, announced that they are in the process of more than doubling the prize money on offer.
This year's tournament has a prize fund of $40,000 (Dh 147,000), while next year the amount will be increased by $5,000 to $45,000 (Dh 165,000).
"We have many new countries participating and in the near future we hope to raise the prize fund to $90,000," Al Bannai stated.
Preparations are on in full swing to host the sixth Dubai International Open Chess Championship, which is an annual event held under the patronage of Shaikh Rashid Bin Hamdan Al Maktoum.
This year's competition has attracted a record number of 165 players from 44 countries.
The tournament is considered among the strongest open Swiss competitions in the world.
The competition this year has attracted 59 Super Grandmasters with a record ELO rating of 2600.
The tournament has grown in stature since its inception in 1999.
