Bursa Culture Art and Tourism Foundation was founded in 1988 by 89 influential citizens of Bursa; like businessmen, artists, academicians, presidents of associations and persons from governorship.
However, it is almost impossible to tell the history of Foundation separately from the history of Bursa Festival. At the early times Bursa Festival was prepared as an international folk dance festival; through the years its identity has changed and took its current form as an international music festival. Folk dance part has been turned into a competition which hosts 20 different countries every year, offers Karagöz prize and money prize for the best three ensembles whose evaluated by international jury members. Golden Karagöz Folk Dance Competition can be qualified as one of the best folk dance festival all around the world. The competition happens every year at the same date, 7-12 July.