The event, now an established part of Scotland's social calendar, is a celebration of the country's culture and heritage in the run up to November 30, recognised the world over as St Andrew's Day.
Legend has it that the relics of Scotland's patron saint were brought to St Andrews by St Rule following a shipwreck and there they remained until they were lost, possibly during the Reformation.
In recent years, thanks to generous sponsorship, both in cash and in kind, the festival has grown steadily.
Ian Hamilton, chair of St Andrews Week Scotland and the local steering group, said this year's programme was bigger than it had ever been.
He also revealed that more than £60,000 worth of sponsorship had been secured towards staging this year's activities.
That included some £18,000 from Events Scotland — an agency of Visit Scotland — support from several businesses, the Byre Theatre and a £30,000 fireworks display provided by St Andrews Bay Golf Resort and Spa.
Around the walls of the atrium of the Old Course Hotel, which hosted Tuesday's launch, were displayed examples of Scottish contemporary art set to be auctioned for charity, in connection with McKenzie Galleries, in the Old Course Hotel-hosted St Andrews Day Party.
Fife's depute provost, Levenmouth Councillor Andrew Paterson said the celebrations had a lot to offer to "not only the residents of St Andrews, but the whole of the world.''
Later, Mr Hamilton spoke warmly of the support, both locally and nationally, for the event.
"This is the first year we have had American representation,'' he went on, "with Robert Wallace of Washington DC, past president of Washington St Andrews Society attending.''
Mr Hamilton said there were moves afoot to open up the St Andrew's Week celebrations to Americans as a "homecoming event,'' for those with strong links to Scotland, encouraging them to combine a Christmas shopping trip to Scotland with the St Andrews Week activities.