Why is Queen Elizabeth I's reign considered as the golden era?

Queen Elizabeth I was a strong and effective ruler that strengthened England's economy and diplomatic influence in Europe. From being a troubled middle power when she assumed the throne in 1558, she had made England a major player in European power politics by the time of her death. In her times, the kingdom got consolidated as a naval power. Both domestically and by engaging in European wars, she contributed to the consolidation of Protestantism. Besides, her era is a time of the flowering of the arts and literature. Shakespeare lived and created in the Elizabethan era, the golden era of England.