5. Sandy Lane Gold Cup Festival

The Buzz -- Sponsored by Sandy Lane Resort and the Barbados Turf Club, this thoroughbred race is considered to be the most prestigious in the Caribbean. It's also among the top few annual events on the Barbados social calendar. Run since 1982, the race is as much a chance for the upper echelons of society to show off their finery and the hoi polloi to enjoy a good party, as it is a competition to decide the best horses and jockeys. To get things off to a festive start, the race is preceded by a performance of the Royal Barbados Police Force Band, along with a parade of dancing majorettes and stilt walkers.