The Oscars countdown is on

The Oscars are coming! Find out how the stars will be celebrating here

Tinseltown is waiting with baited breath to see how the biggest night in showbiz, the Oscars, will be affected by the economic climate. And at first glance it would appear not at all!

SEE OUR OSCAR RED CARPET STAR STYLE PREDICTIONS FOR THIS YEAR’S CEREMONY

The number of Academy Award bashes has multiplied for 2009, but terms being bandied about include ‘scaled back’ and ‘quieter’ and party planners are keen to show they care, flagging up the scholarships a party might be benefiting or how eco-friendly menus and décor are.

Celeb guests could be sorely disappointed by the amount of swag on offer too as goody bags get pared down and guest list numbers are shrunk.

Chairperson for the Governors Ball, the celebration that immediately follows the awards do, said: ‘This is the industry’s big night and we can do it in a way that is reflective of the hard times going on out there.’

But don’t fret, we’re certain the glamour stakes will still be as high as ever with bubbly flowing, just expect organic menus and giant manmade Bonzai trees in the place of OTT flower arrangements.

The much-loved Vanity Fair party returns too (after the writer’s strikes forced a cancellation last year), but only the crème de la crème of Hollywood will see a coveted invitation on their doormat and according to sources, the décor will be recycled from previous years.

Of course, Sir Elton John will come out all guns blazing for his annual AIDS Foundation bash, where stars from Elizabeth Taylor to Mary J. Blige are expected.

Whilst Slumdog Millionaire and The Wrestler casts will be thrown their very own shindigs at ONE Sunset and a First Dibs gifting lounge (diamonds, watches, iTouches?).

Both the Queen of Pop, Madonna, and Hollywood veteran Demi Moore are both reported to be throwing exclusive parties, but the one that’s got everyone talking is Prince’s now annual gathering at an as-yet-undisclosed location. Will they be parting like it’s 2009? We think so.

Check back Monday from 8am to see all the style hits and misses straight from the red carpet!

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