Asunción is the capital of Paraguay. Founded by the Spanish in 1537, Asunción is one of the oldest cities in South America, and it has been the capital of the country since 1811.
Asunción was the hub of Spanish colonial activities in South America before the founding of Buenos Aires, but its importance declined significantly after the colony officially separated from Buenos Aires in 1617. As of 2009, Asunción had 542,023 residents, making it the largest city in Paraguay. The city is home to a large business district, colonial architecture, parks and universities. It is also the landlocked country's principal port.