What was the major effect of Spain's exploration in Latin America from 1450 to 1750?

Vast and wealthy empire.

Spain created a large empire, making the country incredibly wealthy. They also came into control of the Columbian Exchange allowing for many new goods, people, and germs, to travel across the ocean in both directions. The new world was opened to exploration and due to the Spanish, Europeans were made aware of the opportunities available and the dangers that the world could present.