The "Festival dei Due Mondi" (Festival of the Two Worlds) was founded in 1958. Because Spoleto was a small town, where real estate and other goods and services were at the time relatively inexpensive, and also because there are two indoor theatres, a Roman theatre and many other spaces, it was chosen by Gian Carlo Menotti as the venue for an arts festival. It is also fairly close to Rome, with good rail connections. It is an important cultural event, held annually in late June-early July.