All those who love to eat, drink and be merry have long had the Lan Kwai Fong carnival marked in their diaries.

Everyone is out to have a good time, from the youngest family members who are well catered for in a range of children's activities, to the local charities who benefit from the event.

This year's theme is Rio Fantasy, Mardi Gras style, so be prepared for some hot entertainment, mesmerising music, gorgeous dances and lots of surprises.

It is the third carnival to be organised by the Lan Kwai Fong Association, and each year it seems to get bigger and better.

Allan Zeman, the association's founder and chairman, is particularly looking forward to the Rio carnival as he says Hong Kong is already in a celebratory mood. In slow economic times, some people find it difficult to get excited, but with Hong Kong booming, hotels booked out and many bars and restaurants operating to capacity, the carnival weekend is a timely reminder that the good times are back.

'There is a feel-good factor about Hong Kong at the moment. People are smiling; the city is buzzing, it's like a party every night,' Mr Zeman said.

'All over the world carnivals are always a big, fun time, so what better celebration to put on in Hong Kong?'

When the carnival was first started, word of a party soon spread among the bar and restaurant owners in Lan Kwai Fong, who readily agreed to take part by setting up booths and devising special offers. The first year 85 booths were set up. Now there is a waiting list. The media also warmed to the idea, and when the inaugural event featured Brazilian dancers, 'we were inundated' with press and television coverage, Mr Zeman recalled.

'It was the first time Hong Kong had seen Brazilian dancers, and the amazing thing was, it wasn't only adults who turned up. We had grandparents bringing their kids here.'

The carnival was never intended to be solely for Lan Kwai Fong's regulars, Mr Zeman said.

From the start, it was planned as a family affair, and as the momentum grew and more sponsors committed to join, this meant more funds going to the coffers of the various charities which the carnival supports.

'We wanted to have something for everyone, an event where everyone benefits,' Mr Zeman said. 'So we include things for children, arts and crafts, jugglers, mimes, stalls, exotic showgirls - and of course the charity element. Hong Kong is a big city, and when an event can attract so many people, it can give fantastic exposure to charities.'

Major beneficiaries include the Hong Kong Cancer Fund, Aids Concern and Save the Children Hong Kong.

Jacqueline So, marketing manager for the Hong Kong Cancer Fund, said the carnival is an important fund-raising event, and the spearhead of its Pink Revolution breast cancer awareness campaign.

Dozens of volunteers dress up for the carnival in pink outfits, selling pink paraphernalia including feather boas and fluorescent lights, giving away pink apples, and dispensing information. The latter is a vital part of the campaign, since early detection is critical in the treatment of breast cancer, Ms So said.

'Women are often aware of changes in their body, but may not take appropriate action because they are too busy,' she said. 'We want to spread the message that with early treatment, the cure rate is higher. Women should not only be aware of what is happening, but take the time to take care of themselves.'

Ms So added that the Lan Kwai Fong carnival sponsors and patrons are traditionally very generous in supporting the charity.

As an added bonus, everyone who wears the pink badge during the carnival will receive a 10 per cent discount on food and drink purchases.

The Rio Fantasy Street Carnival begins on Friday, October 15 from 6pm to midnight, Saturday, October 16 from 11am to midnight and Sunday, October 17 from 11am to 10pm. So round up the family, put on your dancing shoes and rock along to join in the fun.

The Hong Kong Cancer Fund is the official carnival charity. Throughout this month, donation boxes and information leaflets will be set up in participating outlets. From Friday to next Sunday look out for Pink posters - a 10 per cent discount will be given on in-dining to those wearing pink badges. Prizes will be given to the top three Pink Revolution donators.