How to Say "formal event" in Spanish
The Spanish word for “formal event” is “gala” — B1 level. This is a very common word in everyday Spanish.

Examples
Asistieron a una gala benéfica para ayudar a los niños.
They attended a charity gala to help the children.
La ciudad se vistió de gala para recibir al presidente.
The city put on its best clothes to welcome the president.
Llevaba un vestido de gala espectacular.
She was wearing a spectacular evening gown.
Using 'de gala' as a description
When you put 'de gala' after a noun like 'traje' (suit) or 'cena' (dinner), it acts like an adjective to say that the thing is very formal.
The plural 'galas'
While 'gala' usually refers to an event, the plural 'galas' specifically refers to someone's best, most elegant clothing.
Gala vs. Galán
Mistake: “Calling a formal party 'un galán'.”
Correction: Use 'una gala'. A 'galán' is a handsome man or a leading actor in a movie.
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