The bubble or circles represent the five continents that this festival will be held on and on. On ething for sure that wherever you are something called "wind direction" would be exist in any country in any continent in this world. There North and South, East and West. There could be an additional call north-east, north-west and so on. But mainly, people know four direction. The shape of the three lines represent this direction each of them.
What I want people to feel when they look into this identity is a feeling of "one". One in cultural differences, skin complexion, etc.