Ólavsøka (28–29 July) is the national celebration and the most important event in the Faroese calendar. Named for the medieval Norwegian king St Olaf, it has been observed since 1929 as the national holiday and coincides with the opening of the Faroese Parliament (Løgting). Tórshavn fills with people from every island for two days of rowing races in the harbour, open-air concerts, art exhibitions, and traditional activities. The festival ends at midnight on 29 July with the Midnáttarsangurin — a vast outdoor sing-along followed by Faroese chain dancing in the streets. If you are in the Faroes in late July, plan your visit around this.
G! Festival (mid-July) takes place in the seaside village of Gøta on Eysturoy. This is the Faroes' main outdoor music festival, running since 2002, with a mix of Faroese and international acts. The setting — on a hillside above a bay, surrounded by mountains — is striking. The atmosphere is relaxed and friendly in the way that small-country festivals tend to be. Tickets and accommodation sell out; book early.
Summarfestivalurin (Summer Festival) is held in Klaksvík on Borðoy in August, making it the other major music event of the summer season.
Christmas and New Year bring a more intimate festive atmosphere to Tórshavn. The chain dance tradition resurfaces at various points through the year — look for it at Ólavsøka, but also at community gatherings across the islands.