Segovia, a gorgeous medieval town just fifty miles from Madrid, is a small, compact town where it is easy to walk around. The sites -- including the aqueduct you can walk up to, the cathedral, and the castle that partly inspired Cinderella's Castle at Walt Disney World -- are astonishing. All three of these sites are worth visiting!
In terms of accommodation, the pickings somewhat are slim, but all seem to have great ratings (so you can't really lose). There is at least one Segovia hostel near the aqueduct; don't confuse "hostal" in Spanish (a family run cheap hotel with dorms, without the same social environment as a hostel) for a hostel ("albergue" in Spanish).
There are loads of little shops where you can buy souvenirs (some even engrave items). Additionally, there are gypsies in the square by the aqueduct who sell items like lace and gorgeous shawls; however, be careful when approaching them. If you desire to purchase items from them, before you approach, pull out the amount of cash you wish to pay for an item, and then negotiate; don't have a handful of cash or pull out the money after negotiation, as this may lead to robbery.
All types of food can be found here; however, if you enjoy spaghetti, do not order it (in Spain, they like ketchup rather than red gravy/sauce on their spaghetti). Some of the restaurants tend to be more pricey in the center (as with any city), so check prices before you sit down.
Overall, this is a very safe, nice, gorgeous town not to be missed whether it be for a stop of a day or two.
Hi, I'm Kari,
the Hostelz.com local expert for Segovia hostels. Welcome.