A giant banner advertising the 2016 Rio Olympics is pictured outside a tunnel which connects Botafogo and Copacabana neighbourhoods in Rio de Janeiro, Brazil, July 4, 2016. [Photo/Agencies]

RIO DE JANEIRO - More than 70% of the total tickets available for next month's Olympic Games in Rio de Janeiro have been sold, according to organizers.

Fans have spent 960 million reais (around 290 million US dollars) on 4.3 million tickets, Rio 2016 ticketing director Donovan Ferreti said. Another 1.7 million tickets are still available.

The figure is still some way short of the mark set at the London 2012 Games, when 86% of total tickets were sold.

"The ideal scenario would be to sell out all events but if we reach the level of London, we will be happy," Ferreti said.

"Our revenue target from ticket sales is close to being achieved. We know that many people buy tickets at the last minute. In the next few weeks the actual events will be more visible and we hope that will trigger sales.

Ticket prices for the August 5-21 Games range from less than 20 US dollars for sailing, tennis and modern pentathlon to 1,400 US dollars for the best seats at the opening ceremony.