CULTURAL MELTING POT
Venezuela has a cosmopolitan culture which has historically been open to foreign cultures since colonial times.
Given its proximity to the Netherlands Antilles, illegal trading during the 18th century allowed colonial inhabitants of today’s Venezuela to be exposed to liberal ideas in a way not feasible for inhabitants of other parts of today’s Latin America.
Venezuela's oil prosperity in the early 20th century encouraged one of the largest inward migrations in the history of Latin America, in terms of the size of the host population.
Such flow of immigrants increased after World War II and made Venezuela a cultural melting pot which mixed Italians, Portuguese, Spaniards, Germans, Lebanese, Syrians, as well as people from other European countries, the Middle East and Latin America.
The rise of Venezuela's economic fortunes throughout the 20th century accentuated Venezuela's interrelationship with the world, as Venezuelans were able to study abroad by the thousands and travel the world.
8TH LARGEST GAS RESERVES
In addition to having the largest oil reserves in the world, Venezuela also ranks high in terms of other fossil fuels. According to the OPEC, Venezuela has 5,705 billion cubic meters of natural gas reserves, representing the largest reserves in Latin America and the 8th largest in the world. Given the availability of natural gas liquefaction units in neighboring Trinidad and Tobago, companies extracting gas from Venezuela's eastern region could save the investments needed to export LNG.