The territory now known as Venezuela was colonized by Spain in 1522 amid resistance from indigenous peoples. In 1811, it became one of the first Spanish-American territories to declare independence, which was not securely established until 1821, when Venezuela was a department of the federal republic of Gran Colombia. It gained full independence as a country in 1830. During the 19th century, Venezuela suffered political turmoil and autocracy, remaining dominated by regional caudillos (military strongmen) until the mid-20th century. Since 1958, the country has had a series of democratic governments. Economic shocks in the 1980s and 1990s led to several political crises, including the deadly Caracazo riots of 1989, two attempted coups in 1992, and the impeachment of President Carlos Andrés Pérez for embezzlement of public funds in 1993. A collapse in confidence in the existing parties saw the 1998 election of former coup-involved career officer Hugo Chávez and the launch of the Bolivarian Revolution. The revolution began with a 1999 Constituent Assembly, where a new Constitution of Venezuela was written. This new constitution officially changed the name of the country to Bolivarian Republic of Venezuela (Spanish: República Bolivariana de Venezuela).
According to the most popular and accepted version, in 1499, an expedition led by Alonso de Ojeda visited the Venezuelan coast. The stilt houses in the area of Lake Maracaibo reminded the Italian navigator, Amerigo Vespucci, of the city of Venice, Italy, so he named the region Veneziola, or "Little Venice". The Spanish version of Veneziola is Venezuela.
Martín Fernández de Enciso, a member of the Vespucci and Ojeda crew, gave a different account. In his work Summa de geografía, he states that the crew found indigenous people who called themselves the Veneciuela. Thus, the name "Venezuela" may have evolved from the native word.