Venezuela was colonized by Spain in 1522 despite resistance from indigenous peoples. It became the first Spanish American colony to declare independence (in 1811), but did not securely establish independence until 1821 (as a department of the federal republic of Gran Colombia, gaining full independence in 1830).
When was Venezuela colonized?
Spain’s colonization of mainland Venezuela started in 1522, establishing its first permanent South American settlement in the present-day city of Cumaná. In the 16th century, Venezuela was contracted as a concession by the King of Spain to the German Welser banking family (Klein-Venedig, 1528–1546).
Who first settled in Venezuela?
Christopher Columbus first sighted the coast of Venezuela in 1498. About two decades later, the Spanish began to settle in the country. At the time of the settlement, there were as many as 400,000 Amerindians inhabiting the region.
Why did Spain colonize Venezuela?
Colonial Venezuela’s primary value to Spain was geographic: its long Caribbean coastline provided security from foreign enemies and pirates for the Spanish bullion fleet during its annual journey between Portobelo, in present-day Panama, and Cuba.
Why did Venezuela fail?
Political corruption, chronic shortages of food and medicine, closure of businesses, unemployment, deterioration of productivity, authoritarianism, human rights violations, gross economic mismanagement and high dependence on oil have also contributed to the worsening crisis.
Why did Spain lose its empire?
Many different factors, including the decentralized political nature of Spain, inefficient taxation, a succession of weak kings, power struggles in the Spanish court and a tendency to focus on the American colonies instead of Spain’s domestic economy, all contributed to the decline of the Habsburg rule of Spain.