喜庆 (xǐ qìng) means 'festive' and describes a celebratory atmosphere or occasion (e.g., a wedding or holiday). It differs from 欢乐 (huān lè, 'joyful'), which describes people's happy moods or general joy; 喜庆 is specifically tied to festive events. As a noun, it means 'jubilation' — the feeling of festive joy.