It used to be that green was the colour of money.

In some ways, it still is, and even more so in Regina. This year's Grey Cup is worth of lot of money to the Queen City.

“The game and the festival will contribute over 120 million to the local economy,” said Grey Cup Festival chairperson Dave Pettigrew.

That’s a lot of greenbacks, and it’s not the first big event that Regina businesses have been cashing in on lately.

Canadian Western Agribition recently wrapped up in the city, and although figures for this year aren't available, last year’s event pumped roughly $20 million into the local economy.

“The balance of the impact really lands right here in the city,” said Canadian Western Agribition CEO Marty Seymour.

“If anybody has bought a hotel room ate a meal out, all of those things impact …so, between labour, hotels it’s quite broad in economic impact.”

The tourism money won't stop after Grey Cup either, with Regina hotels looking at an unprecedented season.

"Typically after Agribition, it does slow down for the hotel sector and starts to pick up in Febraury or March,” said Regina Hotel Association CEO Tracy Fahlman.

In 2013, we have grey cup following Agribition, we've got Skate Canada Challenge, which is following that, as well as a number of large scale events in early 2014."

While Rider fans will likely see green and white until the end of this month, it appears Regina hotels, restaurants and other members of the tourism sector can expect to keep seeing green for the rest of the winter season.

The opening ceremonies for the 101st Grey Cup Festival get underway Wednesday at noon at the Mosaic Underground Tent in City Square Plaza.

Several other events are in store for Wednesday:

• Nissan Family Zone – City Square Plaza – 2 p.m. to 8 p.m.

• TELUS Street Festival – F.W. Hill Mall – 2 p.m. to 8 p.m.

• Mosaic Underground Tent – City Square Plaza – noon to 11 p.m.

• Riderville (presented by Tourism Sask.) – Crescent Point Energy Zone – Evraz Place – 4 p.m. to 1 a.m.

Saskatchewan Premier Brad Wall has declared Friday "Green Day," and he's encouraging Rider fans to sport the team's primary colour.

CTV Regina will have continuing coverage of the Grey Cup Festival and Sunday’s game online at regina.ctvnews.ca/grey-cup.

Based on a report by CTV Regina's Matt Duguid