Parking off the street is usually an option--secure parking, backyards, hotel lobbies, more like that. Having someone watch your bike is usually an option--a paid guard, a local shopkeeper (buy something small, then ask), a local kid. Covering the bike, preferably with an old, tatty cover helps. A big old honking chain and giant lock works in most developing world countries, though not in New York or London. I've used alarms, but rarely--seems like too much of a temptation for local kids to jostle the bike then run away, just for the hell of it.

I worry most in European capitals, where the guys with the big bolt cutters, battery powered grinders, cans of freon, and panel trucks live. Same with North America, where I'm often parked overnight in an unguarded lot. Not so concerned in Africa or Latin America, where first of all security is taken seriously and second you seldom hear of those fancy tools in use.

I think if you did a full search of reported thefts of overland bikes, the overwhelming majority take place in industrialized countries, where it's common to hear of garages being broken into, shackles being clipped or cut, vans being used, etc.

On the other hand...there's no doubt you'll find yourself declining to do stuff from time to time due to the undeniable hassle of securing your bike and belongings. There'll be times your choice of places to stay is limited by the availability of secure parking. It's a balance, and sometimes I'm glad to be without my bike.

The final word on any of this is that if you can't recover from losing your bike, you probably shouldn't own it in the first place...and certainly shouldn't bring it around the world. Same with your camera, your laptop, or whatever else you carry. Worse stuff happens.

My 2 cents, and worth every penny.

Mark