Venezuela is a country with gigantic crude oil and gas reserves, however its people are living the most precarious conditions in the Western hemisphere, comparable only to Cuba and Haiti. Caracas is one the most expensive cities in the world (Source: http://www.theguardian.com/cities/2014/feb/12/unaffordable-cities-caracas-tower-squatting-families-bank) and also one of the most dangerous (Source: http://www.theguardian.com/world/2014/jan/12/violent-crime-makes-venezuela-dangerous).
The reason is a regime led by populists involved in drug-trafficking, money laundering, and corruption to the highest levels. These measures come after several months of continues pressure by the civil society demanding concrete actions to improve the economic and social conditions and further demanding respect to civil rights of protesters after government has killed 42 of them. Cancelling tourist visas to those involved in civil rights violations seems absurd could be the beginning of an implosion within the “chavistas” (Hugo Chavez’s followers)