childrenChildren will be treated to a whole thoroughfare of booths and sideshows, while restaurants will have stands to sell food and drink to revellers
The Lan Kwai Fong carnival has been putting smiles on people's faces for six years - and it's not just the people who come along to enjoy the fun who are grinning: The businesses behind the stalls have plenty of reasons to be cheerful too.
The carnival atmosphere and the sheer number of people pouring into the entertainment district over the course of the weekend are a recipe for healthy profits for the shops and restaurants at the heart of the festivities.
No one is more keenly aware of the marketing possibilities of the carnival than Toys 'R' Us which is this year targeting the families heading to Lan Kwai Fong for the event by taking over a full street with its stalls and sideshows. The chain is taking over 20 booths with attractions including workshops, stalls where children can try out the newest toys and a Rubik's cube challenge where 'speed cubers' will attempt to rearrange the famous puzzle in less than a minute - some doing it without even looking.
'We have been involved with the Lan Kwai Fong carnival every year since it was established but this year is the biggest for us,' said Toys 'R' Us spokeswoman Elaine Ma. 'Usually we take up seven or eight of the booths but this year we are taking up the whole street and making it Toys 'R' Us Street.'
Explaining why the carnival holds such appeal for Toys 'R' Us, Ms Ma said: 'The feedback in previous years has been very good. We are able to attract a lot of families with children during the daytime. In terms of our target audience it is just perfect because during the daytime a lot of families come.'
There was also a universality about the carnival that was unique in Hong Kong, she said. 'With most carnivals you have to pay. It is not usually free for the audience. At the Hong Kong World Carnival at the Tamar site last year, you had to pay about HK$100 to enter and then pay extra for some of the attractions once you are inside, but the Lan Kwai Fong carnival is free to enter.'