The two competitions, suspended in response to the coronavirus crisis, will restart in 2021.

In a statement, the GCT said it was "not realistic to safely stage our global championship circuit this year" in the exceptional circumstances caused by the COVID-19 pandemic.

"There is also the risk of a second wave later this year, in the absence of a cure or vaccine, which further complicates logistical planning," the organisation added.

Nations across the world imposed travel restrictions and lockdowns in a bid to curb the spread of the virus, which forced nearly a complete shutdown of sport worldwide.

Sport is starting to resume in a small number of countries considered past the peak of the COVID-19 virus.

"We sincerely thank our event organising partners, our title Partner Longines, the GCL team owners and our partners around the world for their tremendous support and understanding," said GCT and GCL President Jan Tops.

"None of us could have foreseen the scale of this global emergency and the suffering so many people are going through.

"Our priority must continue to be the health and safety of our fans, our staff, the athletes and their teams and those living in the locations of our events.

"So it is with great regret we have decided to cancel the remaining shows this year.

"Now we must all pull together to build a positive future after the pandemic, adapting and adjusting to deliver incredible sport in 2021 and beyond."

In a further disappointing development for the equestrian world, the three-day Burghley Horse Trials in Britain have been cancelled for the first time in their 58-year history, also due to the pandemic..