7. Great Forest Park Balloon Race
Estimated crowd size: more than 130,000
Unlike the other events on this list of the 10 biggest hot air balloon festivals in the world, this is a single day event. It takes place in Forest Park in St. Louis, Missouri. However, before the day of the event, the participating balloons offer spectators the opportunity to experience balloon glow, which is an event where spectators enjoy the scenery as the balloons light up the night sky illuminated by their burners.