Venezuela is a complex nation in northern South America, marked by stunning geographical diversity and profound socioeconomic challenges. Covering 916,445 square kilometers, it hosts approximately 28.2 million people, with nearly 93% living in urban areas—one of Latin America’s highest urbanization rates.
The country possesses the world’s largest proven oil reserves at around 304 billion barrels, surpassing even Saudi Arabia. This natural wealth once propelled Venezuela to become Latin America’s wealthiest nation per capita in the 1970s. However, decades of economic mismanagement, corruption, and overdependence on petroleum have triggered a staggering economic collapse, with GDP shrinking by more than 75% between 2013 and 2021. Hyperinflation has devastated the Venezuelan bolivar, reaching peak annual rates exceeding 130,000% in 2018, though more recently stabilizing at “merely” triple-digit levels. About 76% of Venezuelans now live in extreme poverty…
