🇻🇪 Caracas, officially Santiago de León de Caracas, abbreviated as CCS, is the capital and largest city of Venezuela, and the centre of the Metropolitan Region of Caracas. Caracas is located along the Guaire River in the northern part of the country, within the Caracas Valley of the Venezuelan coastal mountain range. The valley is close to the Caribbean Sea, separated from the coast by a steep 2,200-meter-high mountain range, Cerro El Ávila; to the south there are more hills and mountains.
Economy Businesses that are located in Caracas include service companies, banks, and malls, among others. It has a largely service-based economy, apart from some industrial activity in its metropolitan area. The Caracas Stock Exchange and Petróleos de Venezuela (PDVSA) are headquartered here. PDVSA, a state-run organization, is the largest company in Venezuela, and negotiates all the international agreements for the distribution and export of petroleum. When it existed, the airline Viasa had its headquarters in the Torre Viasa.
Several international companies and embassies are located in El Rosal and Las Mercedes, in the Caracas area. The city also serves as a hub for communication and transportation infrastructure between the metropolitan area and the rest of the country. Important industries in Caracas include chemicals, textiles, leather, food, iron, and wood products. There are also rubber and cement factories. Its nominal GDP is US$70 billion and the GDP (PPP) per capita is US$24,000.
A 2009 United Nations survey reported that the cost of living in Caracas was 89% of that of the survey's baseline city, New York. However, this statistic is based upon a fixed currency-exchange-rate of 2003 and might not be completely realistic, due to the elevated inflation rates of the last several years.
Tourism In 2013, the World Economic Forum evaluated countries in terms of how successful they were in advertizing campaigns to attract foreign visitors. Out of the 140 countries evaluated, Venezuela came last. A major factor that has contributed to the lack of foreign visitors has been poor transport for tourists. Venezuela has limited railway systems and airlines. High crime rates and the negative attitude of the Venezuelan population towards tourism also contributed to the poor evaluation.
In an attempt to attract more foreign visitors, the Venezuelan Ministry of Tourism invested in multiple hotel infrastructures. The largest hotel investment has been in the Hotel Alba Caracas. The cost for the general maintenance of the north and south towers of the hotel is approximately 231.5 million Venezuelan bolivars. Although the Venezuelan Ministry of Tourism has taken the initiative to recognize the importance of the tourism industry, the Venezuelan government has not placed the tourism industry as an economic priority. In 2013, the budget for the Ministry of Tourism was only 173.8 million bolivars, while the Ministry of the Youth received approximately 724.6 million bolivars. The tourism industry in Venezuela contributes approximately 3.8 percent of the country GDP. The World Economic Forum predicts Venezuela's GDP to rise to 4.2 percent by 2022.
Caracas is rated Beta − by the Globalization and World Cities Research Network (GaWC) which evaluates and ranks the relationships between world cities in the context of globalisation. Beta level cities are cities that link moderate economic regions to the world economy.
Caracas was ranked #1107 by the Nomad List which evaluates and ranks remote work hubs by cost, internet, fun and safety. Caracas has a population of over 2,246,000 people. Caracas also forms the centre of the wider Caracas metropolitan area which has a population of over 4,832,026 people.
Twin Towns – Sister Cities Caracas is twinned with: 🇺🇸 Honolulu, United States; 🇺🇸 New Orleans, United States; 🇪🇸 Melilla, Spain; 🇦🇷 Rosario, Argentina; 🇪🇸 Santa Cruz de Tenerife, Spain; 🇲🇽 Guadalajara, Mexico;
Union of Ibero-American Capital Cities Caracas is part of the Union of Ibero-American Capital Cities with: 🇦🇩 Andorra la Vella, Andorra; 🇵🇾 Asunción, Paraguay; 🇨🇴 Bogotá, Colombia; 🇦🇷 Buenos Aires, Argentina; 🇻🇪 Caracas, Venezuela; 🇬🇹 Guatemala City, Guatemala; 🇨🇺 Havana, Cuba; 🇪🇨 Quito, Ecuador; 🇧🇴 La Paz, Bolivia; 🇵🇪 Lima, Peru; 🇵🇹 Lisbon, Portugal; 🇪🇸 Madrid, Spain; 🇳🇮 Managua, Nicaragua; 🇲🇽 Mexico City, Mexico; 🇺🇾 Montevideo, Uruguay; 🇵🇦 Panama City, Panama; 🇧🇷 Rio de Janeiro, Brazil; 🇨🇷 San José, Costa Rica; 🇵🇷 San Juan, Puerto Rico; 🇸🇻 San Salvador, El Salvador; 🇨🇱 Santiago, Chile; 🇩🇴 Santo Domingo, Dominican Republic; 🇭🇳 Tegucigalpa, Honduras.