After 18 years of being Vancouver's largest summer tourist draw, the lights are turning off for the HSBC Celebration of Light.
The sponsors confirmed Wednesday the annual fireworks display is being cancelled because of funding problems.
"This year the not for profit society has been unable to retain and add enough sponsorships to meet the event's $4 million annual in kind and cash budget," coordinator Zirka Reshitnyk said in a release.
Reshitnyk said fundraising had been "a major challenge" for the last eight years.
HSBC took over the event in 2001 after the original sponsors, Benson and Hedges, pulled out because of federal sponsorship regulations.
Vancouver Mayor Gregor Robertson has expressed disappointment the fireworks festival will not proceed, saying that the City was prepared to continue its support for the event for the "fun and family" event.
The annual fireworks display, held over four nights off the shores of Vancouver's English Bay Beach, draws approximately 350,000 visitors a night.
The Vancouver Fireworks Festival Society says the show provides an economic impact of $37 million in direct visitor spending annually.
