Pawel Dwulit/The Canadian Press
Ice sculptor Laurent Godon sculpts a unicorn out of a block of ice in Confederation Park during Winterlude in Ottawa on Feb. 14, 2010. Godon is considered one of the fastest ice sculptors in the world.
Where: Ottawa, Ont., and Gatineau, Que.
Economic impact: $151 million
Turns out, a chilly February can be a hot time to rake in the dough. Winterlude, celebrated each year over the first three weekends in February, has grown into Canada's second-largest money making festival since its birth in 1979. About 1.6 million visitors bundle up in Ottawa and Gatineau, Que., each year for the outdoor party, which is traditionally spread over four sites. But Winterlude isn't all just ice sculptures and maple syrup. The festival has become a hot spot for mainstream performers such as K-OS and K'naan, whose concerts help bring in more than $150 million each year for Ontario and Quebec.