Thousands of revellers dressed in bright colours, feathers and sequins marched along Toronto's waterfront to the sound of steel drums during the Caribana Festival Parade.

Thousands more lined the lakeshore and piled into the exhibition grounds to watch the parade, considered the pinnacle of one of the summer's biggest and most anticipated events in the city. 

Now in its 43rd year, the Caribbean-inspired festival has become the largest cultural festival of its kind in North America.

What began as three days of celebration in 1967 now spans three weeks of concerts, exhibits and special events expected to draw more than a million tourists to Toronto.

It is also a major moneymaker for the city, bringing in some $350 million to the local economy.

The parade kicked off at 10 a.m. Police were warning motorists to expect traffic delays downtown as a result of road closures around Lake Shore Blvd. West.