A breathtaking view of Caracas skyline at twilight with a vivid sunset backdrop.View of La Parroquia tram stop and surrounding hills in Mérida, Venezuela.An aerial view of Caracas, Venezuela, showcasing cityscape with mountains at twilight.A stunning aerial view of Caracas cityscape at dusk, showcasing the vibrant city lights against the mountainous backdrop.A man stands near a historic statue and obelisk in a plaza in Caracas, Venezuela.

Venezuela

South America · South America

Low PeaceAffordable Cost of Living
Medium DevelopmentAuthoritarian
Population28.4M53rd
GDP / Capita$4KLower-mid
PPP / Capita$10KLow
Gender Inequality0.521High
Life Expectancy73 yrsModerate

Oil-rich country in deep crisis — hyperinflation history, very high crime, mass emigration.

At a Glance

20
Very LowSafety
72
AffordableCost of Living
38
LowQuality of Life
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Venezuela

Venezuela is a South American country of spectacular natural beauty, home to Angel Falls, the world's highest waterfall, the extraordinary tepui flat-topped mountains of the Gran Sabana, Caribbean beaches, and the wildlife-rich Llanos plains. The culture is warm and musical, with a strong Caribbean influence in the north and Andean traditions in the highland cities. Those who travel with local knowledge and flexibility will find the landscape and the warmth of Venezuelan people among the most memorable in the continent.

  • Has the world's largest proven oil reserves — more than Saudi Arabia.
  • GDP contracted by over 70% between 2014 and 2020 — one of the worst economic collapses in peacetime history.
  • Over 7 million people — roughly 25% of the population — have emigrated.
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Quick Facts

Capital

Caracas

Language

Spanish

Currency

Bs.S. VES

Area

882,050 km²

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Nomad Hub

Fixed Broadband

98Mbps

Fast64th globally

Mobile

29Mbps

Slow95th globally
EnglishModerate
PlugType A/B

GDP / Capita

i

$4K

Lower Mid

PPP / Capita

i

$10K

Upper Mid

Unemployment

i

5.3%

Low

Innovation (GII)

i

13.7

Low

GNI / Capita

i

$4K

Lower Mid

FDI Inflows

i

1.4%

Cost of Living

i

37.7

Affordable

Price Level Index

i

54th pct

Affordable

20-Year Trend + IMF Forecast

Income & inflation over time

i
-22% nominal-61% real
$8K$17K$25K25%50%75%100%125%150%175%200%225%250%275%300%325%350%375%400%200520102015202020252027
GDPPPPInflationIMF forecast
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Neighbouring Countries