Basically if you are looking for a website/email hosting - you need somebody reliable - National webhost is best.
You need local for fast data access. So if your customers are in Europe, and you host in US, probably not the best way to do it. But the fix for such scenario is CDN (like MaxCDN) which will enable quick data access for anybody in the world.
Local webhost is most frequently not big enough to have best aligned redundancy processes in place, and generally "small guys" are not reliable. But your local hosting company can be a national one at the same time :) like webhostinghub.com has datacenters in Los Angeles and in Virginia Beach, which is local for many people, but the company serves customers not just nationally but internationally also.
hope this helps