Managing director of Festival Republic, organisers of the event, Melvin Benn said: “Latitude is the show that my staff look forward to the most and the atmosphere here at the moment is terrific.”

Earlier this week Michael Eavis, founder of the Glastonbury Festival, said he thought festivals were on their way out and were gong to decline in popularity over next five years.

Mr Benn said: “[Latitude] is sold out and I’m very happy to report that, as much as I love Michael, on this occasion he is wholly wrong.”

Some of the most anticipated acts to perform at the festival include headliners Suede, The National and Paulo Nutini as well as the festival’s most recent confirmation James Blake. Other must-see acts will include comedians Omid Djalili and Alan Carr, the English National Ballet and former poet-laureate Andrew Motion will be making his playwriting debut with theatre company HighTide.

Also he may not be on the centre stage but the Canoe Man, also known locally as Mark Wilkinson, and his team of Bushcraft instructors will be working in conjunction with GreenPeace to provide introductory lessons in Bushcraft.

Latitude will receive television coverage for the first time this year, with Sky Arts signed up to broadcast a two-hour show live from the site each evening.

Organisers have also warned of busy traffic around the site and Festival Republic said it had been working with Suffolk County Council’s highways department on traffic management plans to ease congestion and minimise disruption. There are also special bus, train and coach services operating over the weekend.

Some traders in Southwold, just four miles from Henham Park, have also claimed town centre roadworks coinciding with the festival will cause chaos for local business and put people off from visiting the seaside town but Southwold Town Council claims the work will cause few problems.

• Transport service details can be found at www.latitudefestival.co.uk