Venezuela

• Brief Description
• Economy
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Brief description

Venezuela, officially the Bolivarian Republic of Venezuela (Spanish: República Bolivariana de Venezuela), is a country on the northern coast of South America.

The country comprises a continental mainland and numerous islands in the Caribbean Sea. It borders Guyana to the east, Brazil to the south, and Colombia to the west. Trinidad and Tobago, Grenada, St. Lucia, Barbados, Curaçao, Bonaire, Aruba, Saint Vincent and the Grenadines and the Leeward Antilles lie just north, off the Venezuelan coast. Falling within the tropics, Venezuela sits close to the equator, in the Northern Hemisphere.

Today, Venezuela is known widely for its petroleum industry, the environmental diversity of its territory, and its natural features. Venezuela is considered to be among 17 of the most megadiverse countries in the world.

Venezuela is among the most urbanized countries in Latin America; the vast majority of Venezuelans live in the cities of the north, especially in the capital Caracas which is also the largest city. Other major cities include Maracaibo, Valencia, Maracay, Barquisimeto, Ciudad Guayana and the popular tourist city of Mérida. Venezuela is also home to a diversity of wildlife in a variety of protected habitats.

Economy

The petroleum sector dominates Venezuela's mixed economy, accounting for roughly a third of GDP, around 80% of exports, and more than half of government revenues. The country's main petroleum deposits are located around and beneath Lake Maracaibo, the Gulf of Venezuela, and in the surroundings of the Orinoco River where the biggest reserve of the country is located.

Interesting locations

Margarita Island is located on the north east Caribbean coast of Venezuela and is one of three islands comprising the state of Neuva Esparta discovered by Christopher Columbus. The island is blessed with some of the most beautiful beaches in the world, 72 in all.

It boasts many modern shopping centres, nightclubs, bars and an abundance of restaurants. Margarita does not experience the extreme weather conditions of many other Caribbean islands offering visitors 320 days of sunshine a year. The island is virtually hurricane free, making it an ideal year-round destination.

There are direct flights to Margarita from Canada, Germany, Denmark, United Kingdom, Finland, Netherlands, Russia and Argentina. The majority fly through Caracas, Venezuela, from there it is only a 35 minute flight to Margarita Island. Many airlines are now operating daily flights.

Margarita recently became one of First Choice Holidays destinations with UK tourists visiting a number of high quality all inclusive hotels. The island has also recently become one of the main ports of call on many European Caribbean cruise packages. Margarita Island is a tax and duty free zone with no VAT or property purchase taxes. There is a minimal annual property tax of 100 USD.

Links

• CIA World Factbook entry on Venezuela
• Venezuela at Encyclopædia Britannica
• Venezuela from the Library of Congress Country Studies

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