1 One of the largest cities in South America , Buenos Aires is the capital of Argentina . 2 It is one of the world's most important ports and most populous cities . 2 The Spanish colonists named the city for the "good winds" that brought them to the port . 5 According to tradition , 16th-century Spanish sailors named the port for their patron saint , Santa Maria del Buen Aire ( St . Mary of the Good Air) . 3 The city is also the country's leading port and center of commerce , politics , and culture . 6 The city is the national centre of commerce , industry , politics , and culture . 4 Buenos Aires is located near the Atlantic Ocean coast . 1 city , Federal District , and capital of Argentina , situated on the shore of the Rio de la Plata , 150 miles ( 240 kilometres ) from the Atlantic Ocean . 5 It lies at the northeastern edge of the flat plain known as the Pampa , which occupies the heartland of Argentina . 36 The city of Buenos Aires is located at the northeastern edge of the flat plain known as the Pampa , which occupies the heartland of Argentina . 6 The city is situated at the point where the Parana River delta widens to meet the Rio de la Plata . 37 It is situated at the point where the Parana River delta widens to meet the Rio de la Plata . 7 Buenos Aires has green areas that include plazas , parks , and wide tree-lined avenues . 169 The city is ringed with espacios verdes ( "green areas" ) , which include plazas , parks , and tree-lined boulevards . 8 The most important of the public squares is the Plaza de Mayo , which is linked by the Avenida 25 de Mayo with the Plaza del Congreso . 57 The modern city developed outward from the Plaza de Mayo , a historic square flanked by the Town Hall ( Cabildo ) , which dates from the 18th century , and the Government House , commonly called the Casa Rosada . 8 The most important of the public squares is the Plaza de Mayo , which is linked by the Avenida 25 de Mayo with the Plaza del Congreso . 58 The Casa Rosada faces west , up the broad Avenida de Mayo , which leads directly to the Plaza del Congreso and the National Congress building , built in the early 20th century . 8 The most important of the public squares is the Plaza de Mayo , which is linked by the Avenida 25 de Mayo with the Plaza del Congreso . 116 Other main avenues connect the Plaza de Mayo , in the heart of the city , with outlying neighbourhoods . 9 Both plazas are surrounded by major government buildings such as the Casa Rosada , home of the country's president . 57 The modern city developed outward from the Plaza de Mayo , a historic square flanked by the Town Hall ( Cabildo ) , which dates from the 18th century , and the Government House , commonly called the Casa Rosada . 10 The most important of the city's theaters is the Colon Theatre . 157 The most important of the city's theatres is the Colon Theatre , which is the opera house as well as the headquarters of the national ballet and the national symphony . 11 It is an opera house as well as the headquarters of the national ballet and the national symphony . 157 The most important of the city's theatres is the Colon Theatre , which is the opera house as well as the headquarters of the national ballet and the national symphony . 12 Amateur theater groups are active , and there is an open-air stage in La Boca . 160 Amateur theatre groups are active , and there is an open-air stage in La Boca . 13 The city's museums house varied collections . 162 The city's museums -- several of which are run by the municipal government -- house varied collections . 14 The Bernardino Rivadavia Argentine Museum of Natural Sciences has an exceptionally rich fossil collection and runs a scientific institute . 163 The Bernardino Rivadavia Argentine Museum of Natural Sciences has an exceptionally rich fossil collection and operates a scientific institute . 15 The National Museum of Fine Arts contains collections of world masters and of Argentine painters and sculptors . 164 The National Museum of Fine Arts contains collections of world masters and of Argentine painters and sculptors , while the National Museum of Decorative Arts houses tapestries and antiques . 16 The National Museum of Decorative Arts houses tapestries and antiques . 164 The National Museum of Fine Arts contains collections of world masters and of Argentine painters and sculptors , while the National Museum of Decorative Arts houses tapestries and antiques . 17 Buenos Aires is the nation's chief port and the largest in South America . 2 It is one of the world's most important ports and most populous cities . 17 Buenos Aires is the nation's chief port and the largest in South America . 86 The importance of Buenos Aires , the nation's chief port , to the Argentine economy is related to the country's overwhelming dependence on the production and export of agricultural commodities . 17 Buenos Aires is the nation's chief port and the largest in South America . 89 The port of Buenos Aires is the largest in South America . 18 It is the country's processing and shipping center . 87 Buenos Aires is the country's chief point of consumption , processing , and shipping . 19 Many industries are also located in Buenos Aires . 87 Buenos Aires is the country's chief point of consumption , processing , and shipping . 19 Many industries are also located in Buenos Aires . 95 More than one-third of the industrial capacity of the country is in the Buenos Aires metropolitan area , and about one-half of all manufacturing jobs are located there . 20 About half of all manufacturing jobs are located here . 95 More than one-third of the industrial capacity of the country is in the Buenos Aires metropolitan area , and about one-half of all manufacturing jobs are located there . 21 The main industries include food processing , metalworking , automobile assembly , oil refining , and printing and publishing . 97 The main industries include food processing ( meat , fish , and grain ) , metalworking , automobile assembly , oil refining , printing and publishing , and the manufacture of textiles , beverages , paper , and chemicals . 22 The city also produces textiles , beverages , paper , and chemicals . 97 The main industries include food processing ( meat , fish , and grain ) , metalworking , automobile assembly , oil refining , printing and publishing , and the manufacture of textiles , beverages , paper , and chemicals . 23 Most of the banking activity of the country is also located in Buenos Aires . 101 The city virtually monopolizes the banking activity of the country . 23 Most of the banking activity of the country is also located in Buenos Aires . 102 Banks in Buenos Aires hold the largest share of the nation's bank deposits , a large portion of which are held by foreign investors . 24 The first permanent community at Buenos Aires was established in the 16th century . 177 It was first founded in 1536 by an expedition led by the Spaniard Pedro de Mendoza , who had been made the first governor general of the Rio de la Plata region . 25 Juan de Garay , a Spaniard , led an expedition to the Rio de la Plata region . 179 Nearly 50 years later Juan de Garay led a more substantial expedition back to the site , and there , at the mouth of the Rio Riachuelo , he refounded Nuestra Sen~ora Santa Maria del Buen Aire in 1580 . 26 There , at the mouth of the Rio Riachuelo , he founded the city in 1580 . 179 Nearly 50 years later Juan de Garay led a more substantial expedition back to the site , and there , at the mouth of the Rio Riachuelo , he refounded Nuestra Sen~ora Santa Maria del Buen Aire in 1580 . 27 In the last quarter of the 17th century and the first half of the 18th , settlements spread rapidly to the northwest along the banks of the Parana River . 194 In the last quarter of the 17th century and the first half of the 18th , settlements spread rapidly to the northwest along the banks of the Parana River , a fertile area well irrigated by many streams and small rivers; these were easily navigated by small boats operated by smugglers who reached the many farms and ranches that lined the river . 28 By the middle of the 18th century , Buenos Aires had become a thriving center of trade . 197 By the middle of the 18th century , Buenos Aires was a thriving , if still modest commercial entrepot of nearly 20,000 inhabitants . 29 In 1776 , Buenos Aires was made the capital of the Spanish province that eventually became Argentina . 200 But the economic success of the region was undeniable , and in 1776 , as part of the Bourbon monarchy's broad reform effort , Buenos Aires was named the capital of the new Viceroyalty of the Rio de la Plata .