Tournament organisers said they were expecting crowds of more than 200,000 during the week-long event.
Just eight teams played in the first Foyle Cup in 1992.
Now it operates on a “scale few events anywhere in Europe can match,” according to the tournament’s secretary, Diolain Ward.
“Months of planning have brought us to today, but now it’s over to the players. We look forward to watching thousands of young footballers enjoy six fantastic days of competition, friendship and memories that will stay with them long after the final whistle,” he said
The opening parade has long been regarded as one of the highlights of tournament week over the past three decades, with players and coaches being cheered on by huge crowds.
