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Although I've never been, a lot of people who do go ashore always book an excursion through Princess. Caracas is NOT a safe place to venture on your own. Princess ships stop in Caracas (and sometimes Isla Margarita) because fuel is incredibly cheap and because they are trying to widen people's experiences of the Caribbean. Afterall, it isn't always white sands, turquoise waters and pure idyllic luxury. There are a lot of poverty spots too such as Caracas. If it was me, I'd book a trip (with Princess) and have the opportunity to see the 'other side' of the Caribbean!
We were on princess feb 2009 and booked the cable car and murano glass factory tour , mother and daughter a little apprehensive but was more scared going 7000 feet up in the cable car! wonderful views though.
Princess no longer calling at Caracas for safety reasons, will put into Isla Margarita instead.
Seems a bigger shame to end up mugged and in hospital, I think. There are plenty of safe ports on your cruise!