The event, which was first held in 1956, consists of two sections. First there is a massive historical procession, with costumes and spectacular boats, in which themes and scenes from the medieval history of the four republics are presented, then a boat race follows.

The four cities present themselves garbed in their traditional colours, with banners carrying emblematic animals - blue and a winged horse for Amalfi, white and the griffin for Genoa, green and St Mark's lion for Venice and red and the eagle for Pisa.

For the historical procession, each city presents 80 participants and each of the teams evokes particular historical episodes or figures pertaining to its city. The Pisan procession, for example, features the local heroine Kinzica de' Sismondi, who reputedly saved the city from an unexpected Moorish invasion in 1004 by ringing the church bells and allowing the defenders time to prepare. Venice, on the other hand, re-evokes the entry of the Queen of Cyprus and Jerusalem into the harbour of the city following the Venetian annexation of that kingdom.

The ensuing race, far from being a placid and symbolic affair, is of toothgrinding intensity as each city takes enormous pride in securing the year's trophy. The event is also televised, so victory ensures more coverage, with an ensuing boost in tourist revenues for the victor.

Amalfi came first last year and Genoa has not had a win since the year 2000. Will it all change this year?