Villa Elisa, Paraguay Villa Elisa, Paraguay Villa Elisa () is a city in the Central Department of Paraguay on the outskirts of Asuncion. It was the only colony that was inhabited by Swedish people in Paraguay and today is one of the most important and active cities that are part of the Metropolitan Area of the capital. Villa Elisa is an urban city and borders with Asuncion, in the Defensores del Chaco Ave some 16 km away from Asuncion's city centre. It was founded on March 22, 1938. After the Paraguayan War, Paraguay with its population devastated and poor, was receiving European immigrants,
Economy of Paraguay adorn its streets with an identity that enchants anyone who visits the country. As an example, for less than 80 US dollars a visitor can have a personalized trip to a nature reserve area called Eco-Reserva Mbatovi which is located in the Paraguari department, about an hour away from the capital. The trip includes a bunch of different outdoor activities, water, and complete professional guidance during the whole trip.<ref name="http://www.lonelyplanet.com/paraguay"></ref> Paraguay's banking and financial services industry is still recovering from the liquidity crisis of 1995, when news of widespread corruption resulted in the closure of several significant banks. Reform efforts