The village is famous for its clear air and beautiful landscape that surrounds it. The relief is flat-hilly. The climate is temperate-continental, influenced by the proximity of the Stara Planina mountains eastern slopes - the summer is cool, the autumn is rainy, the winter is cold with plenty of snowfalls and the spring is sunny. The population numbers to approximately 430 people. The former name of the village used to be Damlali. Its current name is a compliment to the great Bulgarian writers father and son Petko and Pencho Slaveykov.
In the village there is a secondary school, a community center with a library, a mayoralty, a church, a doctor's office, grocery shops, a cafe. A small river passes through the village which only adds to its charm. Electricity and water supply are available on a regular basis. The roads are in a very good condition.
5 km to the village lies a small dam-lake and 22 km to Slaveykovo lies Tzonevo dam-lake, the third largest in Bulgaria and a great opportunity for the development of fishing tourism. The greatest assets of the village are its remoteness from large towns and cities, the peacefulness, the tranquillity, the clear air and and the ecologically clean environment, all wonderful predispositions for the development of rural and eco-tourism, as well as for hiking.
Traditionally the local people are occupied in agriculture - vegetable-making, fruit-growing and stock-breeding. The natural resources and the favourable climate provide good conditions for the development of alternative productions - bio-foods, bee-keeping, herb-gathering and mushroom-growing.