Editing Caracas (section)

== Economy ==
[[File:Sabana Grande 2017.jpg|thumb|right|The Sabana Grande area]]
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.<ref name="Caracas" /> The [[Caracas Stock Exchange]] and [[Petróleos de Venezuela]] (PDVSA) are headquartered here. PDVSA, a state-run organization, is the largest company in Venezuela,<ref>{{cite web|url=http://www.pdvsa.com/index.php?tpl=interface.en/design/biblioteca/publicaciones.tpl.html&newsid_temas=53|title=Sitio Web PDVSA|publisher=Pdvsa.com|access-date=26 June 2010|archive-date=18 December 2016|archive-url=https://web.archive.org/web/20161218205222/http://www.pdvsa.com/index.php?tpl=interface.en%2Fdesign%2Fbiblioteca%2Fpublicaciones.tpl.html&newsid_temas=53|url-status=live}}</ref> and negotiates all the international agreements for the distribution and export of petroleum.<ref>{{cite web|url=http://www.pdvsa.com/|title=Petróleos de Venezuela S.A.|publisher=PDVSA|access-date=26 June 2010|archive-date=14 January 2016|archive-url=https://web.archive.org/web/20160114123052/http://www.pdvsa.com/|url-status=live}}</ref> When it existed, the airline [[Viasa]] had its headquarters in the Torre Viasa.<ref>{{cite web |title=World Airline Directory |work=[[Flight International]] |date=30 March 1985|url=http://www.flightglobal.com/pdfarchive/view/1985/1985%20-%200990.html |page=130 |archive-url=https://web.archive.org/web/20101208061406/http://www.flightglobal.com/pdfarchive/view/1985/1985%20-%200990.html |archive-date=8 December 2010 |access-date=17 June 2009}}</ref><ref>{{cite web |title=World Airline Directory |work=Flight International |date=26 March 1988 |url=http://www.flightglobal.com/pdfarchive/view/1988/1988%20-%200813.html?search=%22Virgin%20Atlantic%22 |archive-url=https://web.archive.org/web/20110812045826/http://www.flightglobal.com/pdfarchive/view/1988/1988%20-%200813.html?search=%22Virgin%20Atlantic%22 |url-status=dead |archive-date=12 August 2011 |page=125 }}.</ref>

Several international companies and embassies are located in [[El Rosal, Caracas|El Rosal]] and [[Las Mercedes (district in Caracas, Venezuela)|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 industry|food]], iron, and wood products. There are also rubber and cement factories.<ref>{{cite web|url=https://www.cia.gov/the-world-factbook/countries/venezuela/|title=CIA – The World Factbook|publisher=Cia.gov|access-date=16 March 2012|archive-date=31 May 2021|archive-url=https://web.archive.org/web/20210531110017/https://www.cia.gov/the-world-factbook/countries/venezuela/|url-status=live}}</ref> Its nominal GDP is US$70&nbsp;billion and the GDP (PPP) per capita is US$24,000.<ref>{{cite web|url=http://www.mckinseyquarterly.com/wrapper.aspx?ar=2758&story=true&url=http%3a%2f%2fwww.mckinseyquarterly.com%2fCities_the_next_frontier_for_global_growth_2758%3fpagenum%3d1%23interactive&pgn=cine11_exhibit|title=The Online Journal of McKinsey & Company|publisher=McKinsey Quarterly|access-date=12 March 2013|archive-url=https://web.archive.org/web/20120714100149/http://www.mckinseyquarterly.com/wrapper.aspx?ar=2758&story=true&url=http%3a%2f%2fwww.mckinseyquarterly.com%2fCities_the_next_frontier_for_global_growth_2758%3fpagenum%3d1%23interactive&pgn=cine11_exhibit|archive-date=14 July 2012|url-status=dead}}</ref>

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.<ref>{{cite web|url=http://icsc.un.org/resources/pdfs/2009/pp/Venezuela-09.pdf|title=Cost of Living Survey Report |access-date=18 September 2009 |url-status=dead|archive-url=https://web.archive.org/web/20091224200725/http://icsc.un.org/resources/pdfs/2009/pp/Venezuela-09.pdf|archive-date=24 December 2009}}</ref> 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.<ref>[http://www.eluniversal.com/2007/06/13/en_eco_art_venezuela-with-the-h_13A884453 En_eco_art_venezuela With The H_13A884453 – 2007 – El Universal<!-- Bot generated title -->] {{webarchive |url=https://web.archive.org/web/20140112225819/http://www.eluniversal.com/2007/06/13/en_eco_art_venezuela-with-the-h_13A884453 |date=12 January 2014 }}</ref>

=== Tourism ===
{{main|Tourism in Venezuela}}
[[File:Centro Histórico de Caracas.jpg|thumb|left|Historic center of Caracas]]
In 2013, the [[World Economic Forum]] evaluated countries in terms of how successful they were in advertising 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.<ref name=tourism2013>{{cite web|url=http://www3.weforum.org/docs/WEF_TT_Competitiveness_Report_2013.pdf|title=The Travel & Tourism Competitiveness Report 2013|last1=Blanke|first1=Jennifer|last2=Chiesa|first2=Thea|publisher=World Economic Forum|year=2013|access-date=17 May 2020|archive-date=5 November 2019|archive-url=https://web.archive.org/web/20191105024651/http://www3.weforum.org/docs/WEF_TT_Competitiveness_Report_2013.pdf|url-status=live}}</ref>

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&nbsp;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&nbsp;million bolivars, while the Ministry of the Youth received approximately 724.6&nbsp;million bolivars.<ref name="tourism2013" /> 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.<ref>MARTÍNEZ RODRÍGUEZ, M. (2013). Venezuela: un destino nada chévere. Debates IESA, 18(4), 73–75.</ref>