Updated: Sat Aug. 02 2008 6:42:42 PM

ctvtoronto.ca

A part of Toronto took on a little Caribbean flavour Saturday as the annual Caribana Parade snaked its way along the city's waterfront.

An estimated one million revellers packed Lakeshore Boulevard to take in the dancers, musicians and elaborate costumes.

A morning rain shower delayed the start of the Parade by a few minutes but didn't appear to dampen the crowd's spirits.

Curtis Eustace organized this year's largest float. Topping out at 1,900 performers, the float cost Eustace a lot of time, and money.

"Over $500,000, let's leave it at that," Eustace told CTV Toronto. "We want the Canadian government to know what kind of money it costs to produce something like this so that the Canadian people will enjoy it."

After organizers had some concern about Caribana's financial future, Scotiabank stepped in as a corporate sponsor this year. As well, city, provincial and federal governments chipped in another $1.25 million in grants.

While the parade went off without a hitch, one man was sent to hospital after he fell about three metres to the ground. He is recovering in hospital.

The Toronto Caribbean Carnival, as it's formally known, is in its 41st year and draws tourists from throughout Canada, the United States and the Caribbean.

In its first year, about 10,000 people attended the parade.

Caribana's final weekend contributes about $250 million to the local economy, with each visitor expected to spend an estimated $800.

The party culminates Sunday with a picnic on Olympic Island.

With a report by CTV Toronto's Galit Solomon