The Hong Kong Open will join the big boys on the Asian Tour when it becomes one of the richest national tournaments in the region, the prize money for next year's event having been increased from US$1.2 million to US$2 million.
The big jump will see Hong Kong join the Singapore Open and the Qatar Masters as marquee US$2 million events next year on the burgeoning Asian Tour. The other event on this scale - which counts towards the Asian Order of Merit title - will be the Johnnie Walker Classic which this year offered US$2.3 million.
'The increase in prize money in 2006 firmly underlines our commitment to golf in he region and the UBS Hong Kong Open in particular,' said Kathryn Shih, chief executive of UBS Hong Kong branch.
The financial boost to the Hong Kong Open coupled with next year's event being played back-to-back with the lucrative HSBC Champions tournament in mid-November, could increase Hong Kong's chances of attracting the world's top players. Tiger Woods, Vijay Singh, Padraig Harrington and Colin Montgomerie all played in the HSBC Champions tournament in Shanghai which was won by England's David Howell.
'We are committed to attracting even more of the top players to the Hong Kong Open and providing fans with some of he best sporting entertainment to be found anywhere in Asia. This increase in prize money is a huge step in that direction,' said Martin Capstick, spokesman for promoters Parallel Media Asia.
The 66 per cent jump in prize money means that the 2006 winner will take home a purse of US$333,330 - $133,330 more than yesterday's champion.