It was the height of the English Renaissance and saw the flowering of poetry, music and literature. The era is most famous for theatre, as William Shakespeare and many others composed plays that broke free of England's past style of theatre. It was an age of exploration and expansion abroad, while back at home, the Protestant Reformation became more acceptable to the people, most certainly after the Spanish Armada was repulsed. It was also the end of the period when England was a separate realm before its royal union with Scotland.
The Elizabethan Age is viewed so highly because of the periods before and after. It was a brief period of largely internal peace between the English Reformation and the battles between Protestants and Catholics and the battles between parliament and the monarchy that engulfed the seventeenth century. The Protestant/Catholic divide was settled, for a time, by the Elizabethan Religious Settlement, and parliament was not yet strong enough to challenge royal absolutism.
England was also well-off compared to the other nations of Europe. The Italian Renaissance had come to an end under the weight of foreign domination of the peninsula. France was embroiled in its own religious battles that would only be settled in 1598 with the Edict of Nantes. In part because of this, but also because the English had been expelled from their last outposts on the