The Ibero-American Theater Festival of Bogota was created in 1988 to celebrate the 450th anniversary of Bogota's founding. It has become one of the most important cultural events in Colombia and one of the largest performing arts festivals in the world. The festival takes place every two years in Bogota, bringing together theater companies from around the world. It includes various types of plays throughout the city as well as other events over its two-week duration.