Venezuela

Venezuela is a country on the northern coast of South America with diverse natural attractions. Along its Caribbean coast are tropical resort islands including Isla de Margarita and the Los Roques archipelago. To the northwest are the Andes Mountains and the colonial town of Mérida, a base for visiting Sierra Nevada National Park. Caracas, the capital, is to the north. Located at the northernmost end of South America, Venezuela has a total area of 916,445 km2 (353,841 sq. mi) and a land area of 882,050 km2 (340,560 sq. mi). It is the 32nd largest country, about twice the size of California. Shaped roughly like an inverted triangle, the country has a 2,800 km (1,700 mi) long coastline.

Key Cities

Key cities in Venezuela include: Caracas, Maracaibo, Barquisimeto, Valencia, Ciudad, Guayana, San Cristobal, maracay Cumana, Barcelona, Maturin.

Historical, Cultural facts & Religion

The second Spanish expedition, led by Alonso de Ojeda, sailing along the length of the northern coast of South America in 1499, gave the name Venezuela (“little Venice” in Spanish) to the Gulf of Venezuela—because of its perceived similarity to the Italian city. Venezuela has a rich cultural heritage. From the original Venezuelan natives to the Spanish and Africans who arrived after the Spanish conquest, the 17th-century waves of immigration brought many Italians, Chinese, Portuguese, Italian, Arabs, Germans, Moroccan Jews, and others from the bordering countries of South America.

Brief Country History

The country of Venezuela, officially known as the Bolivarian Republic of Venezuela, is located on the northern coast of the South American continent.  Its territory encompasses roughly 354,000 square miles (916,445 square kilometers), on which lives the country’s estimated population of 29.1 million inhabitants.  From a natural perspective, Venezuela is considered a state with extremely high biodiversity, with habitats ranging from the Andes Mountains in the west to the Amazon Basin rainforest in the south, via extensive llanos plains and Caribbean coastline in the center and the Orinoco River Delta in the east.

Venezuela is organized as a federal presidential republic consisting of 23 states, the Capital District (covering the capital city of Caracas), and Federal Dependencies (covering Venezuela’s offshore islands). Venezuela also claims all Guyanese territory west of the Essequibo River, a 61,583 square mile tract dubbed Guayana Esequiba or the Zona en Reclamación (the “zone being reclaimed”).

Among Latin American countries, Venezuela is considered one of the most highly urbanized, as the vast majority of Venezuelans live in the cities of the north, especially in the capital, Caracas, which is also the largest city in Venezuela.  Since the discovery of oil in the early 20th century, Venezuela has been one of the world’s leading exporters of oil and has the largest oil reserves in South America. Previously an underdeveloped exporter of agricultural commodities such as coffee and cocoa, oil quickly came to dominate exports and government revenues. The 1980s oil glut led to an external debt crisis and a long-running economic crisis, which saw inflation peak at 100% in 1996 and poverty rates rise to 66% in 1995.  By 1998, the country’s per capita Gross Domestic Product (GDP) fell to the same level as 1963, down a third from its 1978 peak.

Language (s) Written & Spoken

Chinese (400,000), Chinese, Portuguese, Italian (254,000) and Italian (200,000), are the most spoken languages in Venezuela after the official language of Spanish. Wayuu is the most spoken indigenous language with 170,000 speakers.

Important Types of Commerce in Venezuela

Venezuela was once among the largest economies in Latin America. However, the hyperinflation witnessed in the 2010s has plunged the country into an economic crisis of unprecedented levels. Venezuela’s economy revolves around the oil industry as the country is among the largest oil producers globally. However, the country’s reliance on its oil industry has seen it suffer from an economic phenomenon known as the “Dutch disease” where other sectors of the economy shrink as the government focuses on the oil industry. The global drop in oil prices witnessed in the late 20th Century and the 2010s almost crippled the economy and resulted in the country experiencing hyperinflation. Other industries that are integral to the economy of Venezuela include its agricultural, tourism, and manufacturing industries.

Language Services US and others will provide working with Venezuela

Venezuela is one of the largest economics, it offers a gateway for business in neighboring Latin American countries. Venezuela is attracting attention from the rest of the world thanks to its solid economic growth over the past decade and very promising forecasts for the future. It is one of the largest markets both by population and geographical area. Communicating with the local market requires proper Chinese, Portuguese, Italian translation and localization. In an international survey, two-thirds of Venezuela stated their unyielding stance of having information presented to them in their native language, and value this overpaying a lower price while shopping online. This is a fact worth noting for those hoping to expand their business into Venezuela.

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