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Country-code top-level domains (or ccTLDs) can provide people with a quick and valuable clue about the location of a website—for example, ".fr" for France or ".co.jp" for Japan. However, for certain top level domains like .com, .info and .org, it's not as easy to figure out the location. That's why today we're adding region information supplied by webmasters to the green address line on some Google search results.
Similar tags have been present on region-targeted Adwords for some time, so it will be interesting to see what effect (if any) the appearance of the tag will have. Google are certainly drawing more attention to the snippets and "green line" in SERPs recently.
Another requirement for GWT!
It's a great plan by Google, really. Finding it difficult to control spam and find the patterns amongst sites Google came up with the idea of WMT to "help" webmasters ... and then slowly make it a requirement. All the site data, bug control and pattern checking done for them. Genius.
Or am I missing something?
The change being discussed here is that, for at least some searches, Google adds a region tag or label to results when the site's Geographic Target setting is available from WMT and that setting differs from the origin of the search. It's essentially providing a location clue for SERP entries from generic TLDs. If you have a generic TLD and you haven't set a Geographic Target, listings from your site won't be affected by this change.