From the capital, the main state resolutions and projects are issued; and the banking, economic, cultural, diplomatic, social, union and industrial entities of the country are centralized.

Asunción ranks as one of the cheapest cities in the world for foreign visitors, and the third-safest capital in Latin America, behind Buenos Aires and Santiago, according to InSight Crime.

[14][15] The official name of the city is "Nuestra Señora de la Asunción" (Our Lady of the Assumption), according to the founding document of the Cabildo, dated 16 September 1541.

Asunción comes from the Latin noun, of ecclesiastical use, assumptīō, defined as: "the Virgin Mary being elevated body and soul to heaven"[17] and must be distinguished from the Ascension of Jesus.

[19] The Spanish conquistador Juan de Ayolas (died c. 1537) may have first visited the site of the future city on his way north, up the Paraguay River, looking for a passage to the mines of Upper Peru (present-day Bolivia).

On 1 January 1869, the capital city Asunción fell to Brazilian forces led by Gen. João de Souza da Fonseca Costa.

In March 1991, just two years after the coup d'état against the government of Alfredo Stroessner —which lasted almost 35 years— the Treaty of Asunción was signed with the presidents of Argentina, Brazil, Uruguay, and Paraguay.

In May 2000, the Congress building was attacked by tanks in the midst of a failed coup d'état, which led to the president declaring a state of exception at the national level.

[23] Due to the unbridled growth and lack of urban planning and infrastructure in the capital and its surrounding areas —in recent years—, Asunción is becoming a city with problems similar to the large metropolises of the world (e.g.: intense traffic during rush hours, insufficiency of services, among others).

The highest point in Asunción is the Cerro Lambaré, at 156 meters (512 ft) above sea level, which is surrounded by a small forest mass and usually offers a spectacular show in the springtime because of the blossoming lapacho trees in the area.

[28] The interior area was once covered with lush forests that made up part of the Humid Chaco, containing trees that often exceeded 40 meters (130 ft) in height.

Large animals that once lived in the area that is currently Asunción were the jaguar (Panthera onca), the tapir (Tapirus terrestris), the harpy eagle (Harpia harpyja), and the capuchin monkey (Cebus apella).

Small birds—such as the cardinal (Paroaria coronata), the turtle dove (Zenaida meloda), the chingolo or cachilito (Zonotrichia capensis), the golden goldfinch (Sicalis flaveola), and the saijovy or common celestine (Thraupis sayaca)—coexist in the densely populated areas of the city along with the domestic pigeon—an invasive species that is reproducing at an accelerated rate, causing damage to the facades of buildings and in some cases displacing the local birdlife.

[32] Relative humidity is high throughout the year, so the heat index is higher than the true air temperature in the summer, and in the winter it can feel cooler.

[35] Precipitation is abundant throughout the year, as storms or showers usually develop quite frequently; except for the winter months, when weak but continuous drizzles are more common.

The economic development of the country is reflected in the city by how in recent years construction (infrastructure) has grown rapidly due to the great demand for foreign investment.

[46] As well it remains the most attractive nation in the hemisphere in doing business and is equipped with a series of legislations that protect strategic investments and guarantee a friendly environment for the development of large industrial plants and infrastructure projects.

[51] Regional Real Estate focuses on Asunción due to low inflation, exchange rate stability, high rental income, and lower taxes.

The female population predominates in the city, as is characteristic in urban areas, which are poles of attraction due to the better employment opportunities offered to women.

[55] In Paraguay's capital there are also places of worship of other Christian denominations, the Church of Jesus Christ of Latter-day Saints, as well as of other religions including Islam, Buddhism and Judaism.

[citation needed] Population by sex and age according to the 2002 census Asunción is organised geographically into districts and these in turn bring together the different neighbourhoods.

[60] In the construction projects of "Avenida Costanera Norte" and "Parque Bicentenario" a new neighborhood was created with 144 popular homes to resettle families that were directly affected by the plans to improve the infrastructure of the city.

[61] The project included a "social component" that cost around $5.8 million to build the houses and infrastructure of the new neighborhood and pay compensation to families who were going to leave the area.

[64] Subsequently, work on the "Parque Lineal Costanera" project continued, the first stage of which was enabled at the end of 2019 with the following characteristics: exclusive bicycle lanes, paths, fair spaces, gym equipment, and a parking lot with capacity for 350 vehicles.

The project of the Master Plan for the Reconversion of the Port of Asunción, promoted by The Ministry of Public Works and Communications (MOPC) was conceived in the 1990s, and has been reconfirmed in each government since then.

In compensation, the wide variety of its heritage allowed the creation of a large number of small rooms that give visitors the opportunity to learn about the history of the country through the artistic expressions contained therein.

[77] Promoted by the "Organización Capital Americana de la Cultura", with the collaboration of the Paraguayan authorities participating in the election was carried out with the intention to disclose the material cultural heritage of Asunción.

The result of the vote, which involved 12,417 people, is as follows: Palacio de los López, the National Pantheon of Heroes, the Cabildo, the Metropolitan Cathedral, the Guaraní Hotel, the Municipal Theater and the Church of the Holy Trinity.

The "Manzana de la Rivera", located in front of the Presidential Palace, is a series of old traditional homes that have been restored and serve as a museum showcasing the architectural evolution of the city.

[79] At the country level there are more than 905 accommodation establishments, totaling 33,813 beds, and one of the challenges that is still being faced is the hotel categorization with sustainability criteria, which if approved would place Paraguay at the forefront in this regard.