Already £5 million has been set aside for new affordable homes to hep tackled the city’s housing crisis.
And a series of transport projects have been proposed for funding from the new Visitor Levy, including the revamp of George Street.
The latest batch of proposals focuses on Edinburgh arts and cultural sector, with plans for new funds to give more opportunities to existing organisations and encourage new ventures.
Culture and communities convener Margaret Graham said the levy - which comes into effect in July - offered the Capital “vast” opportunities.
She said: “Edinburgh is such a tourist destination, with a reputation throughout the world. This is going to give us an amazing opportunity to keep it in the forefront.
“We are all quite aware there are lots of cities in the UK that would love to be us, so we have got to make sure we stand out and we continue to be in the forefront of innovation with regard to culture.
“The amount of extra money this is going to bring in - it could be as much as £50m a year by the end of the decade - is incredible, so it's very important we spend that money sensibly.”
The culture and communities committee will debate the latest proposals on Wednesday, February 11, before the full council makes the final decision at a special meeting the following day.
Here are some details of what the council is planning on the arts and culture side, including funding to help complete high-profile major projects like the new National Centre for Music at the old Royal High School and potentially reviving the Festival Cavalcade and Fireworks Concert.
5. Festival Cavalcade / Fireworks Concert
Money from the tourist tax could help revive the Edinburgh Festival Cavalcade, which used to mark the start of the Festival with bands and floats parading along Princes Street. And it could also help bring back the concluding Fireworks Concert, which used to draw huge crowds to Princes Street - although the council says it might now be a drone or light show rather than fireworks, due to "environmental considerations". | TSPL Photo: Denis Straughan
6. Edinburgh Tartan Day parade
Hundreds of people attended Edinburgh's inaugural Tartan Day parade along Princes Street in May 2025. And the council proposes to use Visitor Levy money to develop the event, which is based on New York's famous Tartan Week. The council says: "This parade will bring together tartans, pipe bands, dancers, musicians, organisations, and individuals from Edinburgh, as well as across Scotland, to celebrate the country’s rich heritage, tartans, culture and inclusivity." The funding would come from the Programming Fund, which is also paying the the Ross Bandstand programme. | Getty Images Photo: Jeff J Mitchell
7. Longer and 'riskier' exhibitions
The council says its proposed £1.56 million Programming Fund would not only pay for events at the Ross Bandstand and Edinburgh's Tartan Day, but also bring one-off major events to the Capital and allow others to stay here for longer. It says: "Working within our core venues - such as the Usher Hall and City Art Centre - the quality of events and exhibitions seen during August can be extended throughout the year; and working with organisations such as the National Galleries & National Museums, will enable riskier and ambitious exhibitions to be shown more regularly and for longer." | National World
8. City Centre Police Unit / Street Assist
The council would give £1 million a year from the Visitor Levy to support Police Scotland with the creation of a City Centre Policing Unit. This would be match-funded by Police Scotland. The unit would consist of one inspector, three sergeants and 45 constables to help police large events and prevent crime. There would also be £250,000 a year towards a fixed base for Street Assist at the West End police station and supporting the nighttime economy and events with a mobile service. | Getty Images