On the eve of the 2014 Melbourne Cup Carnival, last year’s event was announced the winner of the Major Festivals and Events Category at the RACV Victorian Tourism Awards on Monday night.

Last year the 2012 Melbourne Cup Carnival won the same award before winning the Major Festivals and Events category at the Australian Tourism Awards.

Australia’s original major event generated $364.5 million of gross economic benefit to the state economy in 2013, with event motivated interstate visitors spending $177.5 million during their stays in Victoria.

The 2013 Melbourne Cup Carnival is now in the running to go back-to-back in the national awards later this year.

The home-grown Melbourne Cup Carnival generates incredible local and international media coverage, attracts tens of thousands of visitors to Melbourne while stimulating the accommodation, fashion, retail and hospitality sectors.

VRC Acting Chief Executive Julian Sullivan said the Melbourne Cup Carnival positions Melbourne as an appealing destination for sport, fashion, food and lifestyle on a global stage.

“The Carnival continues to go from strength to strength, with the celebration that stops a nation increasingly capturing the attention of the world,” Mr Sullivan said.

“Centred on four incredible racedays, the Carnival is a two week celebration that highlights the very best of what Melbourne has to offer – food, wine, sport, culture and commerce.”

Mr Sullivan also praised the support of the VRC’s Principal Partner Emirates, Major Partner’s AAMI, Crown, James Boag’s and Myer, and the Victorian Government.

The 2014 Melbourne Cup Carnival begins on Saturday 1 November with AAMI Victoria Derby Day, and continues with Emirates Melbourne Cup Day on Tuesday 4 November and Crown Oaks Day on Thursday 6 November before concluding with Emirates Stakes Day on Saturday 8 November.

More than 330,000 racegoers are expected to attend the four days at Flemington, where more than $17 million in prize money will be won by connections, with $6 million on offer in the Emirates Melbourne Cup, the world’s richest handicap.

Tickets are still available for purchase from Flinders Street, Southern Cross and North Melbourne train stations or racegoers can jump the queues and buy online from Ticketek on their mobiles.