No, it doesn't.
What matters is the language that you use and the location clues that you send to Google.
For example, if you are selling Pomeranians in the Chattanooga, Tennessee area, your content should have location information.
Your website should be registered with local business directories catering to Chattanooga, Tennessee, or Tennessee in general.
Now if your business is located in the Philippines and specifically the San Juan area but you're not in San Juan, Puerto Rico, make sure your content says so.
This really is all about just being more conscientious regarding how localized your content is when registering your blog for backlinks to register in the right local directories.