Nine companies have come together for the festival, known as Corroboree, is projected to be worth $21 million to New South Wales' economy.
Trent Zimmerman from the Tourism and Transport forum told NITV News the festival is not only good for the economy but it's giving tourists what they want.
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"Aboriginal culture is vital for tourism. We know that international visitors want to experience Indigenous culture. They want to understand more about it, which is why this festival is going to be so important as the years progress".
Education is also a key goal with the event's organisers hoping school children from around the country will come to the event.
"When young students come here ... they see the amazing culture and heritage associated with Aboriginal culture -- which is going to make them greater Australians," said NSW Minister for Aboriginal Affairs Victor Dominello.
