Sienaa(EUR)(TM)s Palio is one of the most exciting spectacles in the world! Twice a year, July 2 and August 16, the citya(EUR)(TM)s contradas, or neighborhoods, hold a horse race around the town square in honor of the Virgin Mary. The city literally prepares all year long for the two events, investing time and money into their neighborhooda(EUR)(TM)s jockey and team.