New Year's Eve fireworks erupt over Sydney's iconic Harbour Bridge and Opera House during the traditional fireworks show held at midnight on December 31, 2014. AFP
In China, Beijing's bid to stage the 2022 Winter Olympics was to be the theme of celebrations. Concert pianist Lang Lang will be the star performer at an extravaganza at Olympic Park.
The Chinese capital has held New Year countdowns at the historic Temple of Heaven since 2011, but has moved the event to the site of the 2008 summer games to raise the profile of its winter Olympics bid.
Fireworks light up the Sydney Harbour Bridge during the annual fireworks display to usher in the new year, early January 1, 2015. More than 10,000 aerial fireworks, 25,000 shooting comets and 100,000 pyrotechnic effects were used during the annual Sydney Harbour New Year's Eve show, with an estimated 1.6 million people watching from along the harbour foreshore, local media reported. REUTERS
In Taiwan the landmark skyscraper Taipei 101 will be at the centre of celebrations, with performances by pop singers and a firework display at midnight expected to attract hundreds of thousands.
And in Japan, the Meiji Jingu shrine in Tokyo brought out stocks of lucky charms and set up large offertory boxes as it prepared to welcome a huge wave of worshippers overnight. The huge shrine expects three million visitors in the first three days of the new year.
Crowds watch as fireworks light up the Sydney Harbour Bridge during the annual fireworks display January 1, 2015. More than 10,000 aerial fireworks, 25,000 shooting comets and 100,000 pyrotechnic effects were used during the annual Sydney Harbour New Year's Eve show, with an estimated 1.2 million people watching from along the harbour foreshore, local media reported. REUTERS
But in Malaysia, a sombre mood prevailed after the crash of AirAsia Flight QZ8501 carrying 162 people in Indonesia and flooding in the country's northeast which has displaced almost 250,000 people.
Year-end countdown celebrations have been cancelled, with many companies instead launching fundraising campaigns for flood victims.
In Indonesia, Surabaya was holding a candlelight vigil in the hours leading up till midnight to remember the people on the plane which departed that city on Sunday.
New Year's Eve fireworks erupt over Sydney's iconic Harbour Bridge and Opera House during the traditional fireworks show held at midnight on December 31, 2014. AFP
London stages New Year's Eve fireworks along the Thames and Edinburgh will be holding its traditional Hogmanay street party.
Marking 2015 on Copacabana beach in Rio de Janeiro, more than two million people are expected to attend a huge fireworks show that will open celebrations marking 450 years since the founding of the city.
And in New York about one million revellers are expected to descend on Times Square to watch the New Year's Eve Ball Drop.
Spectators on boats are silhouetted as fireworks shower down from the Sydney Harbour Bridge during the annual fireworks display to usher in the new year, early January 1, 2015. More than 10,000 aerial fireworks, 25,000 shooting comets and 100,000 pyrotechnic effects were used during the annual Sydney Harbour New Year's Eve show, with an estimated 1.6 million people watching from along the harbour foreshore, local media reported. REUTERS