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As in Christmas, they have turkey (not a must though) and also reunion of the family - those kind of annual events which earn you a holiday.
I do not really celebrate this in particular; in fact I believe it is more popular/celebrated in the West. Also, my family kinda have our own thanksgiving most of the time as well:)
However, I do agree that this is a warm and happy occasion.
One thing I do know is: Holidays and no morning meetings during this time with US since they are on holidays on both Thursday and Friday...hehe!~