Prize money of €100,000 will be on offer in the classic downhill and slalom events at the FIS Alpine Skiing World Cup ©FIS

Skiiers at the International Ski Federation (FIS) Alpine Skiing World Cup in Kitzbühel will have an added incentive for victory after prizes of €100,000 (£86,300/$111,300) were announced for classic downhill and slalom events.

Prize money at the January World Cup events will reach dizzy heights, as organisers of the traditional Hahnenkamm races announced a 25 per cent hike to mark the event's 80th anniversary.

The increase means a total of €725,000 (£625,700/$807,000) is up for grabs at this season's event.

"We don't want to invest the budget for the 80th Hahnenkamm races into a jubilee party, but the local ski club prefers to set an example for the athletes," said chief organiser Michael Huber.

The prize money is almost twice as high as comparable World Cup events in the Alpine Skiing World Cup calendar.

Those finishing on the podium will also cash in, with prizes of €50,000 (£43,100/$55,700) and €25,000 (£21,5000/$27,800) for second and third places, respectively.

For the SuperG race the prize money will be respectively €68,500 (£59,100/$76,300), €34,250 (£29,500/$38,100), €17,100 (£14,700/$19,000) for the top-three finishers.

In addition, €20,000 (£17,200/$22,300) will be distributed for the international junior race.

The FIS Alpine Skiing World Cup in Kitzbühel will be held between January 21 to 26.