The country does matter because of 2 things - IT infrastructure you need to use and as well as the business service level (business culture) you will to face. Us web hosting companies use to be the best or some of the best because these 2 things. I you live in EU country of course you don't have too many reasons to go with North American web host, even if you target this market. But the country is not that important at all. It is much more important to host with reliable web host, which does not oversell or use any other cheap tricks and of course to receive proper service. I would say that bigger web hosts are better in customer service but this is not true. If you go with smaller company you can rely on personal contact you can build with its owners, managers or employees. My advice is not to follow online ads. Use them as general information and try to find for yourself who's good and who's not.