Laze about in venue on the Caribbean (9)

I believe the answer is:

venezuela

I'm a little stuck... Click here to teach me more about this clue!

'venue on the caribbean' is the definition.
The answer and definition can be both locations as well as being singular nouns.
Maybe there's a link between them I don't understand?

I don't understand how the remainder of the clue works.

Can you help me to learn more?

(Other definitions for venezuela that I've seen before include "Country of the Angel Falls" , "Country in S. America" , "S American country, capital Caracas" , "South American republic" , "South American country" .)

I've seen this clue in The Irish Times.

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