This week's optimism is a stark contrast to 12 months ago, when the ash cloud from a Chilean volcano affected flights worldwide, affecting the festival, and a lack of snow forced the postponement or cancellation of several early events.
This year the stars seem to be aligning, as both Queenstown skifields are open on time and there is even the possibility of some snow tomorrow night.
Festival director Simon Green told the Otago Daily Times yesterday everything was "where it needs to be", and the only question mark was in relation to the weather.
"There's a bit that could come in after the opening party and overnight. It's precipitation of some sort; I would like to think it will be snow."
Mr Green, who has led the festival for seven of the past 10 years, this year has a staff of 15, along with 75 "amazing" volunteers, whom he said would be at each of the 68 events planned between tomorrow and July 1.
While there were several high-profile or highly anticipated events on the festival calendar, for Mr Green it was "all the little things".
"The big thing for me will be about 6.30 [tomorrow] morning when we light up the ice rink to do some interviews with television crews down there.
"We're hanging fairy lights in seven trees down The Mall this year ... I'm looking forward to the lights coming on at 5.15 on Friday night.
"There is so much on, but there are lots of moments for me through the festival, like seeing the ladies in the Ladies Fashion Challenge when they walk out for the first time, or seeing the boxers walk out for the first time to the applause."
One of the biggest moments would be tomorrow night's opening party, expected to attract about 10,000 people.
While the town has been noticeably quiet to date, Mr Green said the festival would act as a "switch".
"When that festival switch comes on on Friday, it's palpable ... It's so important all the locals get out and get stuck into the events to support it - it's our event and we're sharing it with everyone."
This year one major change had been made to the programme.
The annual Mardi Gras - traditionally held on the Tuesday of festival week - had been moved to the final day of the festival.
Mr Green said there were a few contributing factors, the major one being a desire to "dovetail" into the New Zealand school holidays.
"We've typically had a festival that's been very front-loaded in terms of events; it makes it very tough on our locals to get out and experience the two major parades.
"There's the Street Parade and Day on the Bay, then the kids go back to school and can hardly keep their eyes open, and we want them to come out on the Tuesday and experience Mardi Gras."
This year's programme would make the festival "more manageable" for locals.
The Queenstown Winter Festival opening party will begin at 5.30pm tomorrow at Earnslaw Park, with the fireworks starting at 7pm.