Dancing the tango at Caracas’s Parque Central complex, August 2021.
Photographer: Fabiola Ferrero for Bloomberg BusinessweekVenezuela’s Long Decline Threatens the Cultural Jewels of Caracas
In a city that was once the envy of Latin America, many landmarks have fallen into disrepair.
Caracas once looked like a glimpse of Latin America’s future.
When petrodollars flowed into Venezuela in the 1960s and ’70s, the nation’s capital experienced a building boom. Highways ringed the growing metropolis, which boasted a university suffused with public art and the region’s tallest skyscrapers. Big American cars prowled the streets, thanks to generous fuel subsidies, while world-class museums and theaters and state-managed housing complexes were built.