The trustees of the Booker Prize Foundation have announced that, from 2014 onwards, the Man Booker Prize will be open to all novels originally written in English and published in the UK, regardless of the nationality of the author.

At present, the Man Booker Prize is only open to writers from the Commonwealth, Ireland or Zimbabwe, but after "extensive investigation and evaluation" it has been decided to expand the £50,000 prize to authors worldwide.

Jonathan Taylor, Chairman of the Trustees, said: "By including writers from around the world to compete alongside Commonwealth and Irish writers, the Man Booker Prize is reinforcing its standing as the most important literary award in the English-speaking world."

He continued: "We are excited by the opportunities that extending the Man Booker Prize will bring for readers and writers worldwide. The expanded prize will recognise, celebrate and embrace authors writing in English, whether from Chicago, Sheffield or Shanghai.

"We are embracing the freedom of English in all its vigour, its vitality, its versatility and its glory wherever it may be. We are abandoning the constraints of geography and national boundaries.

"The number of books publishers are allowed to submit has also long been a concern. Our new model, in recognising literary achievement, should encourage the traditional literary publishing houses while ensuring novels from new green-shoot publishers continue to be included."

Irish author Colm Tóibín is among those shortlisted for this year's Man Booker Prize.