Vienna has a giant street party that begins on NYE and continues into New Year's Day. It is called the Silvesterpfad (Silvester is the German word for New Year's and pfad means path). The path takes you from the City Hall (Rathaus) winding you through the First District. There are numerous stages with dancing, music, punsch and food stalls, etc. It takes several hours to compete the path. Of course there are fireworks, but in Vienna it is a sort of DIY show - people buy them and set them off in the streets. It can be kind of dangerous - especially as a lot of glass is thrown about as well. Personally, I do the Silvesterpfad every year, but avoid the time around midnight. On New Year's Day, of course Vienna is famous for the New Year's concert broadcast worldwide from the Musikverein. A live broadcast of the concert is shown on a large screen in front of the Rathaus, many people come to see this and many will spontaneously waltz in the square. Quite a lot of fun.