MIAMI BEACH (CBS4) – The 5th annual Gay Pride Parade on Miami Beach brought tens of thousands of people out to party and support LGBT equality.

Participants dressed up in colorful costumes and supporters packed Ocean Drive.

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“It brings straight people, gay people, bisexual people, everyone together to have great day free of discrimination and full of fun,” said Alex Febres who showed up to watch the parade.

This year’s parade was the largest one to date with 173 floats and an estimated 80,000 people from around the world coming together.

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Miami Beach Mayor Matti Herrera Bower served as the parade’s Grand Marshall, riding with Congresswoman Debbie Wasserman Schultz in a Rolls Royce convertible to kick off the party.

Bower said the celebration shows support and acceptance for the LGBT community while also boosting business.

“I think it brings unity to the community,” said Bower. “Brings that we are not discriminating for anyone and I think that also it brings a lot of tourists.”

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Singer Adam Lambert will perform Sunday night. He’ll also receive a “Key to the City” from Bower.