Calgary is well-known as a destination for winter sports and ecotourism with a number of major mountain resorts near the city and metropolitan area. Economic activity in Calgary is mostly centred on the petroleum industry; however, agriculture, tourism, and high-tech industries also contribute to the city's economic growth. Calgary holds many major annual festivals which include the Calgary Stampede, the Folk Music Festival, the Lilac Festival, One Yellow Rabbit High Performance Rodeo — Calgary's International Festival of the Arts, Wordfest: Banff-Calgary International Writers Festival, Calgary International Spoken Word Festival, One World Festival (GlobalFest), and the fourth largest Caribbean festival in the country (Carifest). In 1988, Calgary became the first Canadian city to host the Olympic Winter Games, and one of the fastest long track speed skating ice rinks in the world was built at the University of Calgary to accommodate these Games.

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