While internet speeds are increasing, customers patience are decreasing as they usually have to pay more for fast broadband speeds. So most will not likely have the patience they had 5 years ago! to wait for a page load for more than a few seconds. Normal human nature. The more they pay, the more they expect.
The best answer to this would be to host your website in the country or region where your target audience or customers lies. This applies whether it is a service or a product which require shipping. Reason is your websites load lot faster if hosted locally when compared to hosted overseas.
Exception to this would be in the current online internet infrastructure, the country you reside! fits in.
Rule of thumb! Host in your country if there are hosting services available and all your customers are there.
If not! Web Hosting Data Centers are the next best choice.