Why it matters
Geo TLDs suit local businesses, tourism and city services. Demand is real but narrower than .com, and resale prices are usually lower. They sit in the new gTLD family and are run by registries tied to the place. Do not confuse a geo TLD, which is the extension, with a geo domain, which is a place name used in a normal domain such as a city plus a service. The two have very different resale markets.
Source: newgtldprogram.icann.org