Great Britain and its capital city "knows how to mount a major celebration", according to organisers of London's New Year's Day Parade.
Some 12 hours on from London's New Year's Eve party festivities, Big Ben's chimes start the 2007 parade, which is marketed as "one of the nation's treasured traditions".
Over 10,000 performers will take part in the event, including bands, cheerleaders, clowns and performers in cartoon character costumes.
Prime minister Tony Blair has attended in the past, with the Lord Lieutenant of Greater London and the Lord Mayor of Westminster regularly in the crowd.
Commenting on last year's parade, executive director of the event, Bob Bone, said: "This was our best year ever, a massive turn out in London – despite the threat of travel disruption and a monumental television audience across continents.
"This was our first global telecast – and we plan to repeat the exercise [in 2007]."
The first New Year's Day Parade in London, dubbed the Lord Mayor of Westminster's Big Parade, took place on January 1st 1987.