In the United Kingdom, Edinburgh hosts the Hogmanay street party famous for its New Year's Eve torchlight procession.
Edinburgh's Hogmanay is a multi-day celebration centered on the Scottish capital. Its program has included a torchlight procession, concerts, a large street party, and fireworks near Edinburgh Castle. The exact schedule and scale can change from year to year, but the festival is strongly identified with the city.
The torchlight procession usually moves through central Edinburgh toward an area associated with the city's historic landmarks. Participants carry flaming torches in a highly visible public ceremony that gives the celebration a distinctive opening spectacle.
Hogmanay itself is celebrated throughout Scotland, so Edinburgh is not the only Scottish city with New Year's traditions. The question points specifically to the internationally promoted street-party festival and torchlight procession held in Edinburgh.