New Year's Day is the first day of the calendar year. It is celebrated as a holiday in almost every country in the world. It is a time of gaiety, sharing with friends, remembering the past, and hoping for good things in the future.In the United States, thousands of people jam Times Square in New York City to welcome the New Year at midnight. The transition between New Year's Eve and New Year's Day is an exciting one. In Times Square, people countdown the seconds to welcome the new day as the New Year ball slowly descends and lights up the area.