The Spanish founded colonies across the Caribbean and in Mexico and South America in the 1500s. They established St. Augustine, Florida in 1565, the oldest permanent European settlement in the continental United States. Meanwhile, the crew of Ferdinand Magellan completed the first circumnavigation of the globe, opening the Pacific Ocean to European trade and exploration. By 1600, Spain had established a vast colonial empire in the Americas and Asia, acquiring great wealth in silver and other exports. Other European powers like the Dutch, French, and English then started exploring and colonizing parts of North and South America in search of trade routes, natural resources, and territory.