Create an epic scene of a transportation festival where cultural festivals from around the world converge on a massive floating city in the sky, showcasing intricate hot air balloons, fantastical flying vehicles, and vibrant parades of performers from diverse cultures.

Generate a captivating scene depicting an extravagant transportation festival taking place in a colossal floating city amongst the clouds. The city is filled with mesmerising hot air balloons of various designs and sizes, fantastical airborne vehicles flaunting innovative features, and dynamic parades featuring performers from around the globe. These performers, showing a rich variety of descents such as Caucasian, Hispanic, Black, Middle-Eastern and South Asian, bring their cultural heritage to life through music, dance and colourful outfits. An awe-inspiring assortment of traditional and contemporary elements from different cultures blend together in this inclusive celebration.