Over the coming days, more than 70 events will be held, catering to all facets of the community and sending the message globally that Queenstown is open for winter.
Destination Queenstown chief executive Graham Budd said while it would be nice to have had more snow, "this is a winter festival, not a snow festival".
The event, which began as a small party for the 5000 residents in 1974, giving them something to do over the quiet winter months, was now "critically important" for the resort, the region and New Zealand, Mr Budd said.
It was also likely a large number of the international visitors over the next 10 days - and the coming months - would be arriving on flights from Australia.
Qantas had, for the first time, become the festival's airline sponsor, but it had also increased its schedule from Australia, particularly Sydney, during peak winter months.
This week, Australian breakfast show Sunrise, which has an average weekly reach of 3 million viewers, had been broadcasting from Queenstown, which was "sensational" for the resort, Mr Budd said.
The only winter event which hasn't turned up is snow. Warm weather has delayed the opening of the Remarkables and the Snow Farm skifields, but limited skiing is available at the Cardrona Alpine Resort. Weather forecasts for the field predict a "dusting" of snow tonight but rising temperatures next week.
The Remarkables ski area announced yesterday it would delay its proposed Saturday opening "until snow cover improves".
