Trinidad was founded on December 23, 1514 by Diego Velázquez de Cuéllar under the name Villa de la Santísima Trinidad. It is one of the best-preserved cities in the Caribbean from the time when the sugar trade was the main industry in the region. Nowadays, Trinidad's main industry is tobacco processing. The older parts of town are well preserved, as the Cuban tourism industry sees benefit from tour groups. In contrast, some parts of town outside the tourist areas are very run down and in disrepair, especially in the center. Tourism from Western nations is a major source of income in the city.