Venezuela

Caracas

Caracas is the capital and largest city of Venezuela. It is located in the north of the country, following the contours of the narrow Caracas.
Francisco Fajardo(along with Mason Gray),attempted to establish a plantation in the valley in 1562 after founding a series of coastal towns. Fajardo's settlement did not last as it was destroyed by the locals. This was the last rebellion on the part of the natives, for on July 25, 1567, the Spanish captain Diego de Losada laid the foundations of the city of Santiago de Le?n de Caracas. The cultivation of cocoa stimulated the development of the city which in 1777 became the capital of Venezuela.
As the economy of oil-rich Venezuela grew steadily (during the first part of the 20th Century), Caracas became one of Latin America's economic centers, and was also known as the preferred hub between Europe and South America.
Caracas hosts numerous service companies, banks, and malls, among others. Most economic activity is in services, excepting some industries established in its metropolitan area. The city is home to the Caracas Stock Exchange and Petroleos de Venezuela (PDVSA). The PDVSA is the largest company in Venezuela and negotiates all the international agreements for the distribution and export of petroleum.
Small and medium industry also contribute to the economic capacity of Caracas. The city has excellent routes of communication and transportation between the metropolitan area and the country. Caracas is a regional center for the distribution of products. The high concentration of population has also been an important factor for the growth of retail wholesale markets, which form the fastest-growing segment of commerce in the region.
Caracas is Venezuela's cultural capital, boasting several restaurants, theaters, museums, and shopping centers. The city is also home to an array of immigrants.