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COTACACHI is considered to be a well situated town within the Imbabura Province, from where outings can be arranged to nearby tourist attractions such as the famous Otavalo Indian Market (open all year round), the idyllic Waterfalls of the nearby Peguche Village, the beautiful Condor Park in the vecinity of the San Pablo Lake - the largest in the region - as well as the Crater Lake Cuicocha as well as the Laguna de Yaguarcocha, known as the Blood Lake due to the incrediable fights among the Incas and Caranquis.