Over the past 70 years, the Rolex Sydney Hobart has become an icon of Australia's summer sport, ranking in public interest with such national events as the Melbourne Cup horse race, the Australian Open tennis and the cricket tests between Australia and England. No regular annual yachting event in the world attracts such huge media coverage than does the start on Sydney Harbour.

Over the years, the Rolex Sydney Hobart and Cruising Yacht Club of Australia have had marked influence on international ocean yacht racing. The club has influenced the world in race communications and sea safety, maintaining the highest standards for yacht race entry. The club's members have also fared well in major ocean racing events overseas, with victories in the Admiral's Cup, Kenwood Cup, One Ton Cup, the Fastnet Race and the BOC Challenge solo race around the word, not to mention the America's Cup.