[2] The festival is a celebration of Australia's maritime heritage and also showcases Tasmania's rich history of food and wines.

It has a major economic benefit to the island state of Tasmania, with accommodation fully booked during the event.

AWBF is open only to boats constructed from timber*, and is widely regarded as the largest event of its type in the southern hemisphere.

[5] HM Bark Endeavour Replica is a major feature of each festival, though it did not attend in 2017.

[6] Other vessels that attend include the Julie Burgess, the last blue-gum fishing ketch,[7] the HMS Lady Nelson replica, Windeward Bound and the James Craig.