Venezuela The most northerly South American nation with the Caribbean Sea directly to the north. Christopher Columbus encountered Venezuela, the homeland of the Carib and Arawak Indians, on his third voyage to the New World in 1498. The area was named Christopher Columbus Little Venice by the European explorers in 1499 when they saw how the Indians built their villages on pilings over Lake Maracaibo. In the 1500's Spain sent many expeditions to explore the possibilities of settlement and future development, which led to the founding of the city of Caracus by Diego de Losada in 1567. Venezuela was part of the formation of Gran Columbia, which included Colombia and Ecuador, from 1820 until 1830 when the confederation broke apart and Venezuela became an independent nation. Today, Venezuela's economic future looks optimistic and favorable.
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