YouTube supports geotagged videos (geocoded location & elevation) during upload or later when editing video metadata.
When you geotag your content, it can be found in geographic searches. Although searching geographically is not the most straight-forward process, it can be useful. To search geographically, select the "Search Options" link beneath the search box, then click "Additional Search Optinos". Text-based or map-based (drag-and-drop) searching is possible.