Global search engines like Google or Bing are guided mainly by the speed of your website and its optimization for different devices, and in light of the page loading speed, of course, you need to choose a hoster in a location with the largest number of potential visitors.
If you have an intercontinental resource, then geographic load balancing will come to the rescue, again taking into account the localization of the physical location of the site. Plus, such geographic localization of the server will help to avoid some of the features of local search engines, which may give preference to resources physically located locally or using IP addresses with local geolocation.