Yes. The trending tag has been #spanish but in the venezuelans would talk their own language it would have been #venezuelish. Im not sure about the numbers, but I'd say that more than 95% of the post writen in spanish are writen from venezuelans. The on-boarding on that country have been massive over the last 3 years. Users are good and add value to the chain (specially those who write high quality content) but there is also a lack of investors. And we all know what happens if people only sells and no body buys.
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Yeah, the lack of investment is there but there are obvious reasons for that. The sum is really only a small % of the total earnings by accounts on Steem, but it's a noticeable amount for a country going through troubled times.