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GeoDomain names are domain names that pertain to a geographical locations in the world, for example Chicago.com, Chicagorestaurants.com etc..

These are great domain names that get a lot of traffic from people searching for places. Although a lot of places have been registered with the suffix (.COM), there are still a lot of opportunities in developing countries for geodomaining. These are some of the reasons why I believe geodomain names are a big opportunity:
Traffic
Not much advertising is needed to get traffic from Search Engines, with the exact keyword that matches your domain name, it ranks first page (usually) in search results. It gets a lot of type in traffic without much work. It’s also easy to remember as it refers to the place and doesn’t need much branding at all.
Opportunities
With the opening of other TLDs and ccTLDs, more and more opportunities are opening up in the domain name market. TLDs ,like .info, .job etc., is great for geodomaining. ccTLDs are also good as it points towards the country and then to the specific location.
Advertising
Advertising in this field is also more lucrative. Although it takes longer time (meeting with local establishments for advertising), it can prove to be more effective for local advertisers to join. And with this means, less competition for getting advertisers in your website. GeoDomain Names generally have higher revenues, their advertisements are usually clicked more and returns are large.
More details here : http://www.domaininformer.com/guides/General_Information/articles/090603-GeoDomain-Names-Big-opportunities-in-Domain-Name-Investing