The phrase "prestigious honour" means being recognized or awarded for something exceptional or important, and that recognition is highly respected and admired by others. Full definition
He burst upon the Irish art scene in the early 1990s, winning the James Kennedy Memorial Award for portraiture at the Royal Hibernian Academy (RHA) at the age of 23, and, nine years later, the Artist of the Year Award (Ireland Fund of Great Britain), one of the most prestigious honours in UK / Irish fine art. (visual-arts-cork.com)
And if a 6 figure salary a week (some on 60k +) with the chance to win the most prestigious honours in your field and adoration isn't enough motivation then I don't know what is!!!! (justarsenal.com)
From this perspective, City barely can give him a secure spot where the struggling Arsenal need him to rescue their old prestigious honour of Emirates. (beyondtheposts.net)