It's anchors away for yet another Cork Week which begins today, when some 5,000 sailors from over 20 countries will leave Crosshaven and head out into Cork Harbour for the first day in a seven-day schedule of sailing.
Although the number of participating boats is down from 500 in 2004 to 400 this year, the event remains as popular as ever. This year sees more bigger boats with average crews of 10-12 people.
With over 3,000 visitors coming from elsewhere in Ireland and abroad, the event is thought to be worth about €20 million to the Cork economy.
Among the participants this year is the largest yacht to race in Irish waters, the €10 million 30 metre New Zealand Maximus, owned jointly by Bill Buckley and Charles St Claire Browne.
"We had always hoped to compete at Cork Week," St Claire Browne said, "but were not presented with an opportunity until this year, when it became apparent in the last few days that we could honour a commitment to Cowes Week and compete at Cork Week."
According to Cork Week chairman Ian Venner, the event remains one of the most popular regattas in Europe due to the combination of excellent racing on water and the friendly and relaxed ambiance on shore, under the auspices of the Royal Cork Yacht Club.
"We have around 5,000 participants and 5,000 spectators coming down every night, so it makes for a great mix, and the fact that it all takes place in one venue here in Crosshaven as opposed to in several clubs makes it very attractive," he said.
"The standing that we have as probably the most welcoming regatta in the world is something money can't buy."
Some 400 volunteers help to make the event such a success.
Apart from the many pubs and restaurants in the Cork Harbour area which benefit, other notable beneficiaries include homeowners in Crosshaven and Carrigaline, who rent out their houses to visitors for the week.
According to Martina Foley of Haven Properties, one of three firms which organise house lettings in the Crosshaven and Carrigaline areas, Cork Week requires a great deal of preparation by home owners.
"Home owners often go away on holidays themselves or they may bunk down with relatives - a lot of our visitors are repeat business who know Crosshaven well at this stage and know exactly where they want to stay."
According to Ms Foley, people can get accommodation in Crosshaven from €350 to €500 per person for the week, which compares favourably with other major events such as the Monaco Grand Prix, where people pay up to €30,000 for a house for a week.
"We generally start taking bookings before Christmas and right up to Easter we would take a lot - most people have something by then, but we still have vacancies in Crosshaven."