The local search engines traffic could be really excellent and easier to obtain than the global search engines portals.

For instance the country specific niches could be really excellent and easy to begin with.

Thanks for the reply... But, how should i find those country specific niches? Also, are the niche directories better than general directories?

The domian extension is also one aspect that u can make use of!

Country specific extensions (.sk, .cz, .de etc) that might have a little effect on geotargeting (i.e. targeting a smaller market segment divided by geography - usually country specific). Sk domain will rank slightly better when a search query comes from Slovakia.