Residents and business owners say it's the local equivalent of having an Olympics or the NHL come to town.

At the end of this month, 144 of the world's best up-and-coming surfers, along with sponsors and international media, will converge in this small town on the West Coast of Vancouver Island for Canada's first professional surfing contest.

The O'Neill Cold Water Classic, which runs from Oct. 25 to Oct. 31 with a prize of $144,000, is considered the biggest event ever hosted in Tofino.

Around town, professional surfers are training, resorts are planning for an influx of guests and tourism officials are organizing volunteers and preparing for the international media.

"There will be world-class guys coming here," said Peter Devries, a professional surfer from Tofino who hopes to qualify for the contest at a special Canadian surfing trial Oct. 24.

"It's exciting, you know. It's always nice to see top talent surf where you surf every day."

When asked to draw an analogy between the importance of the contest and another sport, Devries pointed to hockey and said the Cold Water Classic is like having National Hockey League players in town for a game.

The Association of Surfing Professionals is the world's top governing body for the sport. Its highest tier of competitive surfing is known as the World Tour, which sees the top 45 surfers square off during 10 events in Australia, the South Pacific, Europe and the United States.

To make it into the top 45 and onto the World Tour, however, surfers must advance through the World Qualifying Series. The Cold Water Classic is one of many series events and stops in Tasmania, South Africa, Scotland, California, and now Tofino.

"We've never seen an event of this magnitude and caliber of surfing in Canada," said Marc Fuller, event coordinator for the Cold Water Classic.

He said competitors will have to brave water temperatures of 10C to 12 C at Cox Bay, North Chesterman Beach, or if conditions get too big, MacKenzie Beach.

One Canadian, Noah Cohen, a rider based in Tofino, has won a wild card into the contest, and two others will be able to qualify during special, invitation-only Canadian trials Oct. 24, added Fuller.

He said sponsor O'Neill first started kicking around the idea of a Canadian stop during a competition in Scotland a few years ago.

"It seemed to be fitting to have a location in Canada," he added.

If all goes well, said Fuller, the contest could return for another four years.

Stephen Peters, general manager of the Pacific Sands Beach Resort at Cox Bay, said the competition is expected to take place on the beach in front of his resort. Pacific Sands and the Long Beach Lodge, located just down the beach, will host competitors, O'Neill representatives and the media centre.

"You've got the cream of the crop of the world coming," he said. "This is likeahaving the Olympics, the 2010 Olympics, on a scale for Tofino. "

"I would certainly have to say that this is the biggest thing that's happened in Tofino, ever, really."

Sharon Lingenfelter, executive director Tourism Tofino, the destination marketing organization for the town, said the contest will draw participation from almost every sector of the community, including the municipality, resorts and restaurants.

She said there is no way of yet knowing the contest's full economic impact on the community.

"It has the potential of having significant positive impact in the town's economy at a time when tourism is not normally high," she added.

Lingenfelter said about 50 people attended a video question-and-answer session Tuesday night focused on the contest.

Devries said he's training, surfing and staying fit and picking two good boards for the Canadian trials.

Unlike past surfing contests in Tofino, he added, all the judges officiating at the event will hold certification from the Association of Surfing Professionals and will be fully trained.

"It's definitely more a professional event than we've ever had," said Devries.

" 1/8It's 3/8 Not a bad way to spend a week."