Paraguay · South America
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Capital and most populous city of Paraguay
Asunción is the capital and the largest city of Paraguay. The city lies on the eastern bank of the Paraguay River, immediately north northeast of the confluence where it is joined by the Pilcomayo River. The Paraguay River separates Asunción from the Occidental Region of Paraguay to the northwest, and from Argentina to the southwest. The eastern part of the city is surrounded by the Central Department.
The official name of the city is "Nuestra Señora de la Asunción" (Our Lady of the Assumption), according to the founding document of the Cabildo, dated 16 September 1541. The fort that preceded it was established with the same name on 15 August 1537, by Juan de Salazar de Espinosa, the day on which the Catholic Church commemorates the Assumption of Mary. Asunción comes from the Latin noun, of ecclesiastical use, assumptīō, defined as: "the Virgin Mary being elevated body and soul to heaven" and must be distinguished from the Ascension of Jesus. Although the dogma was not proclaimed until 1950, the festival dates back to the 9th century and was especially celebrated in Spain and America. Its name in Guarani is Paraguay: Paraguái in Guarani. The name was later used to refer to the whole nation.
The Spanish conquistador Juan de Ayolas (died c. 1537) may have first visited the site of the future city on his way north, up the Paraguay River, looking for a passage to the mines of Upper Peru (present-day Bolivia). Later, Juan de Salazar y Espinosa and Gonzalo de Mendoza, a relative of Pedro de Mendoza, were sent in search of Ayolas, but failed to find him. On his way up and then down the river, de Salazar stopped briefly at a bay in the left bank to resupply his ships. He found the natives friendly, and decided to found a fort there in August 1537. He named it Nuestra Señora Santa María de la Asunción (Our Lady Saint Mary of the Assumption – the Roman Catholic Church celebrates the Feast of the Assumption on 15 August). The relations between the Spanish settlers and the Guaraní shaped the city's early character. …
Being at the Argentina–Paraguay border, Asunción is located between the parallels 25° 15' and 25° 20' of south latitude and between the meridians 57° 40' and 57° 30' of west longitude. The city sits on the left bank of the Paraguay River, almost at the confluence of this river with the River Pilcomayo. The Paraguay River and the Bay of Asunción in the northwest separate the city from the Occidental Region of Paraguay and Argentina in the south part of the city. The rest of the city is surrounded by the Central Department. The Paraguay River is the most important hydrographic body of the city since river commerce develops through it, and it is also a tourist attraction. …
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Being the third-oldest capital city of South America, after Quito and Lima, Asunción has plenty to offer, culturally speaking, from Spanish colonial-era buildings (Baroque to neo-Gothic), museums or urban parks, this classic city also hosts several symphony orchestras, ballet, opera and theater companies. The best known orchestras are the City of Asunción's Symphony Orchestra (OSCA), the National Symphony Orchestra and the Northern University Symphony Orchestra. Among professional ballet companies, most renowned are the Asunción Classic and Modern Municipal Ballet, the National Ballet and the Northern University Ballet. The main opera company is the Northern University Opera Company. A long-standing theater company is Arlequín Theater Foundation's. …
The economic development of the country is reflected in the city by how in recent years construction (infrastructure) has grown rapidly due to the great demand for foreign investment. In addition, Asunción ranks sixth as the most profitable city in Latin America. The most important Paraguayan companies, businesses, and investment groups have their headquarters in Asunción. Commerce has expanded considerably in recent years stretching towards the suburbs where shopping malls and supermarkets have been built. Paraguay's only stock exchange, the BVPASA, is located here. The city is the economic center of Paraguay, followed by Ciudad del Este and Encarnación. The attractiveness of the city has been attributed to its lax tax policies. Asunción has unrestrained taxes on the investments and movements of capital. There is also no income tax for investors in Bonds of Asunción Stock Exchange. …
The city is home to the Godoy Museum, the Museo Nacional de Bellas Artes (which contains paintings from the 19th century), the Church of La Encarnación, the Metropolitan Cathedral and the National Pantheon of the Heroes, a smaller version of Les Invalides in Paris, where many of the nation's heroes are entombed. Other landmarks include the Palacio de los López, the old Senate building (a modern building opened to house Congress in 2003) and the Casa de la Independencia (one of the few examples of colonial architecture remaining in the city). The Paraguayan hospitality industry has seen significant investments in recent years. This economic sector is contributing strongly to the growth of the country's tourism sector. This brought with it greater capacity and quality of accommodation and, according to Senatur data, between 2013 and 2017 the number of beds grew 34%. …