Unfortunately with so many sanctions on Venezuela it doesn't allow for capital investment into the country to tap into its rich resources. In addition Venezuela focused heavily on oil and didn't diversify into other industries enough so when demand dried up due to sanctions, a lot of people who found their work in that sector and supporting sectors were out of work.
As for Latin America, many of these countries have debt way over their heads, forcing the country to either tax citizens higher or raise inflation to cover their debt obligations, when you do this you slow down the economy, you can also see an example of this in Greece.
As economies get weighed down by paying national debt, there's less money to go to developing industry and thus expanding the job market
Reading this brings Nigeria to my thoughts. The same situation is on Nigeria as well.
The economy and sustainability are too deep issues, exactly, Venezuela should expand its economic activities and there has been an attempt to do so by reactivating sectors such as tourism, but it is still difficult to solve the issue of jobs and economic improvement 😖😖
Absolutely, it won't be easy, but Venezuela have a chance to copy the Russian model, by charging for their oil in bitcoin or turning their oil reserves into bitcoin, while individuals have the chance to switch over and use bitcoin the same way El Salvador has, its now about creating your own opportunties, no ones coming to save any of us