Equity, great question โ and even more difficult to answer. Here is my 2 cents. IMO it would be very difficult to create a one-size fits all answer โ there are too many exceptions. My clunky generalization is that large City Geos are worth the most especially if you look at them cumulatively. Advertising is increasingly becoming more local; easier to target locals with a city geo than the other Geos, so more ways to monetize a city geo, in general, IMO. But in reality, itโs a case by case basis.
The more local (granualar) you focus the more valuable the City Geo, the more distant the location the more valuable the State, Region or Country โ again with tons of exceptions. This is a little bit like the Theory of Relativity โ distant for someone is nearby for another. So therefore you need to factor in the local population, the local per capita income, tourist attractions, conference venues, visitor spending, etc.
As Local mentioned, the exceptions might include the smaller States (and countries) such as VT, NH, VT, RI and Hawaii. But then again the largest US State (Alaska) might be an exception to the exception โ I think it has more value than Anchorage, Fairbanks, or Juneau, again IMO.
Here are two contrasting examples:
London vs England - โLondonโ has a higher OVT for both US and UK overture than โEnglandโ. There are many people who want to visit London without any interest in the rest of England or UK (to their loss I may add) but none the less, London is almost like its own country from a tourist perspective. And from a local perspective โ those living in London think London โ not England (except during Football qualifiers when Londoners are as likely to be supporters of Scotland, Ireland, Wales, France, Spain, Poland, etc. as England supporters). So in this case London wins vs England from a local and non-local monetization perspective, again IMO. Who knows, Her Majestyโs Government via The BBC may want to buy England.TV for much more than London.tvโs monetization potential, and thus be โworthโ moreโฆ
Opposite Example:
Hawaii vs Honolulu vs Waikiki
In this case, Hawaii wins IMO. Hawaii search results blow away Honolulu or Waikiki. I would guess that the number of tourists who visit Hawaii swamp the number of locals living there. I would rather own Hawaii.tv and believe it could be monetized better than the the city of Honolulu or Waikiki area. I might add that these are all GREAT names Iโm just looking at relative values.
To some extent we are talking Apples and Oranges, and err Plums. City, State, and Country GEOs may have different uses and different monetization paths โ all depends on the specific factors of the specific GEO to determine value. Just my 2 cents.