Stretching for 12 miles through the beautiful valley below Mount Avila, which separates the city from the sea, Caracas has been known as one of South America’s most cosmopolitan cities with historic sites, important museums and stately plazas. But the gap between rich and poor and 15 years of political disruption have altered its character, and the Venezuelan capital is now considered one of the most dangerous cities in the world, with a high homicide rate and kidnappings, assaults and armed robberies common throughout the city. Former residents deplore the cement walls and concrete caverns which have come to dominate their city once known as “Little Venice.” “It’s a ghetto, a war zone,” laments native Venezuelan Reinaldo Herrera. Large sections of town are considered “no go” areas for tourists, and visitors are urged to travel here with extreme caution.

While Venezuela is not on the U.S. State Department’s travel advisory list of countries to avoid, the U.S. Embassy website posts numerous cautions and warnings. On arrival, don’t change money at the airport, and be wary of “security officials” who may be robbers in uniform escorting you to ATM machines for “express kidnapping” withdrawals at gunpoint. Gangs setting up fake checkpoints and phony “police” inspections are among dangers on the road into town from Maiquetía Airport, and embassy personnel are required to travel to and from the airport in armored cars.

In a country ranked sixth in global oil reserves, inexpensive gas leads to horrendous parking conditions and roads clogged with suffocating traffic. With the threat of robbery, taxis are risky; the city’s underground metro, once a showcase, requires caution; and rental cars are not recommended. Preferably, locals suggest hiring an armored car and driver for around $50 per day, arranging it through the hotel concierge or by contacting dependable Evenseg car service.

Changing currency is another challenge. Regulations forbid hotels from money exchange. Those in the know avoid using credit cards and ATM machines because the official exchange is five to six times higher than the parallel “street rate.” Rather, the prevailing custom, although illegal, is to change cash on the street. Ideally arrange discreetly for a local colleague or business contact to do this for you. If mugged when carrying cash or valuables, surrender them without argument and consider carrying a “decoy” cellphone and wallet with a small amount of cash to hand over.

Hazards notwithstanding, Caracas remains the country’s business center, home of the stock exchange and of the national oil firm Petróleos de Venezuela, S.A. Despite the government’s anti-American stance after a decade of political polarization, the United States is Venezuela’s leading trading partner, with more than 500 U.S. companies represented; and direct investors concentrated in the petroleum, manufacturing and finance sectors. Exports from America to Venezuela include machinery, organic chemicals, agricultural products, optical and medical instruments, automobiles and auto parts.

Avoiding the dicey tourist district around Plaza Bolívar, most business is conducted to the east in the municipality of Chacao, considered the safest and almost “walkable” part of town, with its adjacent neighborhoods of La Castellana, Altamira and Los Palos Grandes north of the central Autopista freeway and Las Mercedes south and across the highway.

Even in those safer areas, guests are advised not to walk away from their hotels and not to go to any establishments suggested by strangers. The newest and only 5-star hotel, the Renaissance is located in La Castellana. The 4-star InterContinental Tamanaco and Eurobuilding Hotel in Las Mercedes suffered some wear and tear when the government took over some rooms to house indigents.

Besides relatively safe restaurants in hotels, popular eating places tend to be located in the city’s many large centros commerciales (malls), and all reliable restaurants offer valet parking. Except for hotels, few restaurants open for breakfast, but arepas, empanadas and croissants are served in the old hacienda setting of Café Arabíca in Los Palos Grandes. The restaurant specializes in fine, single-estate coffees roasted fresh on the premises. Displays around the red-tiled patio show how this prize crop is grown and processed, producing some of the finest coffees in the world.

One of the few off-site restaurants serving lunch and meals all day, D.O.C. (near the Renaissance Hotel in Los Palos Grandes) specializes in “noble ingredients from Venezuela” cooked creatively: fresh fish, a selection of 46 artisanal cheeses and pato real Amazonico (Muscovy duck). In addition to a Latin American wine list, the bar stocks 47 Venezuelan rums and 10 brands of cocuy, Venezuela’s version of tequila. Contemporary local artwork is exhibited on the walls, and a private dining room with WiFi Internet can be rented for business functions. D.O.C. claims to be the only Caracas restaurant serving 30-day dry-aged meat specifically from Venezuelan beef. Other recommended steakhouses, both in Las Mercedes, are Maute Grill and the Hereford Grill.

For lunch, consider joining the city’s remaining “beautiful people” at Aprile in Altamira. Its Italian flavor attracts a sophisticated crowd to a contemporary setting of tile floors and wood tables. With more of a homey feeling, La Montanara in Las Mercedes is another popular Italian option. Venezuelan fusion is the fare at charming, airy Mokambo.

Long-established in Los Palos Grandes, French restaurant Lasserre, decorated with red-and-white-striped chairs and wine bottles lining the dark woodwork, offers a fine selection of Bordeaux wines and an elaborate menu of classic dishes in a formal atmosphere, with jackets and ties recommended.

Dating back nearly half a century and recently relocating, Le Club is a traditional institution for upscale Caraqueños. While restricted to members, the English pub-themed club will arrange to organize private midweek lunches for non-members and companies.

Dine on authentic dim sum and Sichuan and Cantonese gourmet cuisine at Casa Deli, also offering its menu in Chinese and employing Chinese- and English-speaking staff. Although reported to serve good sushi, locals point out that the Nobu restaurant in Caracas is not affiliated with the popular chain originating in New York.

Many restaurants showcase artists from the active local scene, and art is a good purchase to bring home. Weekends, eight galleries show new works from 11 a.m. to 4 p.m. in the old warehouse setting of El Centro de Arte Los Galpones in Los Chorros, a short ride away. In Los Palos Grandes, La Artezanía in La Cuadra Gastronómica sells top-class basketry and carvings and folklore objects from Indian tribes and local craftsmen. Venezuelan chocolate is another must-buy, as well as the popular katara hot sauces spiked with ants, termites and other savories from the Amazon.

With a moderate average temperature of 88 degrees that is said not to vary more than 10 degrees throughout the year, Caracas is a pleasant place to do business for travelers who remain low key, avoid carrying cash stashes or wearing flashy jewelry, and proceed with caution.