The Melbourne Cup Carnival was declared the winner of the Major Festivals and Events category for the third consecutive year at Monday’s Victorian Tourism Awards.

The third straight win for the celebration that stops a nation saw it inducted into the Victorian Tourism Hall of Fame.

Presented at the Melbourne Exhibition and Convention Centre, the award recognises the 2014 Melbourne Cup Carnival’s role in attracting interstate and overseas visitors to Victoria, the significant economic impacts for the state and promotion of Victoria and Australia to the world.

Victoria Racing Club Chief Executive Simon Love said the award is an endorsement of the Carnival’s incredible economic and promotional benefits and thanked the Victorian Tourism Industry Council.

“We are honoured to once again receive this coveted award in recognition of our hard work in making the Melbourne Cup Carnival the international success story that it is today,” Mr Love said.

“The Victoria Racing Club commits $50 million to deliver the Melbourne Cup Carnival annually, which in turn contributes more than $370 million to the Victorian economy and $700 million to the national economy each year.

“The Melbourne Cup Carnival continues to go from strength to strength, achieving record out of state visitation with approximately one-third of all attendees being from interstate or overseas.

“The Carnival is a resounding tourism success story. This is Australia’s original major event, and it contributes to the economy like no other.”

More than 325,000 racegoers attended the 2014 Melbourne Cup Carnival at Flemington, including visitors from 43 countries, generating $28.38 million in accommodation spending over 186,221 bed-nights.

For over 30 years the Victorian Tourism Awards have showcased and recognised the state’s leaders in tourism excellence.

The awards play an integral role in rewarding business excellence, innovation, industry professionalism, collaboration and initiative.