What factors caused European nations to explore the Western Hemisphere and establish colonies

The factors that caused European nations to explore the Western Hemisphere and establish colonies were due to the need of the nation’s states to increase their resources which were scarce. On top of that, pressure because of the rivalry between nations was also happening during that time. This is why they had to expand their lands to gain more power over other nations. During the 15th and 16th centuries, the resources of the European countries were starting to deplete. It was also during that time that nations were staring to be aggressive in looking for other land with the hope and objective of colonizing those available lands. The other reasons for the conquests are their search for gold and their need for timber. Another is, during that time the more lands a country had conquered and more resources it acquired, the higher status, more prestige and personal glory it will gain.