New Year:

The New Year is an event that happens when a culture celebrates the end of one year and the beginning of the next year. Cultures that measure yearly calendars all have New Year celebrations.
In countries governed by the Gregorian calendar, the celebration of New Year is celebrated on January 1, the date that is considered the most festive of them. The Gregorian calendar is now used by many countries as the official calendar. This has meant that celebrations for the New Year have become much larger than before. Some countries even consider 1 January to be a national holiday.
At present, the celebration of New Year is a major event in the world. Major events are held in major cities around the world New Year's Eve (New Year's Eve for the December 31), being accompanied by the largest fireworks events.
Because of the division of the globe into time zones, the New Year moves progressively around the globe as the start of the day ushers in the New Year. The first time zone to usher in the New Year is just west of the International Date Line. At that time the time zone to the east of the Date Line is 23 hours behind, still in the previous day. The central Pacific Ocean island nation of Kiribati claims that its easternmost landmass, uninhabited Caroline Island, is the first to usher in the New Year.