Otavalo Indigenous Market Otavalo, famous for its indigenous market, a place full of traditions and the country’s best place to do some serious souvenir shopping. The market on Plaza Poncho can be visited any day, although on Wednesday it is a bit bigger and on Saturdays at its maximum, not only covering Plaza Poncho but a big part of the town. But the region has more to offer! Imbabura province is known as the province of the lakes, San Pablo lake is located at the foot of Taita Imbabura (4.621 m) and crater lake Cuicocha can be found next to Mama Cotacachi (4.939 m). These volcanoes are starring in a famous and very interesting legend.