The Founding of Asuncion is a national holiday in Paraguay, celebrated with great fervor and enthusiasm every year on August 15. The holiday marks the founding of Asuncion, the capital of Paraguay and the first city founded in the Río de la Plata Basin. The Spaniards, led by Pedro de Mendoza, established the city in 1537 and it quickly became an important hub for the Spanish Empire in South America and played a significant role in the spread of Christianity throughout the continent.

The celebration of the Founding of Asuncion typically includes a multitude of events and festivities taking place throughout the city and across the country. The day is filled with cultural activities including traditional music, dance, and parades showcasing the history and heritage of Paraguay. Major attractions and landmarks in Asuncion, including Panteón Nacional de los Héroes and Casa de la Independencia, are visited by locals and tourists as part of the celebrations, highlighting the significance of Asuncion in the country's historical timeline.

Commemorating the Founding of Asuncion provides an opportunity for Paraguayans to reflect on the history of their nation and to express their national pride. The holiday also attracts a significant number of tourists each year who come to witness the unique cultural celebration and learn about the rich history of Paraguay. Despite the many challenges Paraguay has faced since its founding, the spirit of resilience and unity is palpable every Founding of Asuncion, a testament to the enduring spirit of the Paraguayan people.