The competition starts with the Ashes series between hosts England and Australia, which begins with the first Test at Edgbaston in Birmingham on Thursday (August 1).

It will see the top nine Test teams in the world – Australia, Bangladesh, England, India, New Zealand, Pakistan, South Africa, Sri Lanka and the West Indies – compete in 71 Test matches across 27 series over two years.

The top two will contest the ICC World Test Championship final in 2021, with the series set to be hosted in the UK.

India captain Virat Kohli claimed it would "add context to the longest form of the game", which is still the most popular according to a survey published earlier this year.

"It is a great thing," Kohli said.

"We are all looking forward to it because we feel that after (a few) big tours, maybe, a one-off Test or couple of Tests were not apt for the moment. 

"But I think this gives a lot of context to all kinds of cricket that we are going to play.

"Test cricket needed a boost. 

"The players were always putting in the effort but from a global point of view, it was important to have an incentive attached to Test cricket in a way which the Test Championship presents."

England's leading Test wicket-taker Jimmy Anderson is among the other players to have welcomed the launch of the competition.

"The ICC World Test Championship is another brilliant initiative for the sport, adding context and relevance to every Test series," he said. 

"Every Test matters, but even more so now."