I'd like to know what you guys think is the best way to go about creating a geographic taxonomy for a website (disclaimer: I run Wordpress, but more universal standards are welcome).
Serving content based on location is not a primary concern, rather I'd like to simply be able to attach a location to every story, kind of like news-agencies do, in order to later be able to run specific search filters or display stories on a map etc.
I have tried the popular plugins in the WP repository, but they all feel more or less like dead-end streets, with much needed to make them work as intended and much of the existing functionality to be left out. It would be neat if one could just pin the story on a map and then have the plugin take care of the taxonomy and everything, but this doesn't seem to be the case. Unless I missed anything, I think it's safer to just build something simpler from scratch.
The straightforward way to go about this would be to create a hierarchical custom taxonomy, with country > region > city etc. (maybe using the full names of places but with ISO 2/3 letter codes as slugs, for easy processing in maps etc.)
However, I'm not sure how future-proof this would be. Is there a better standard out there or in the works? I want to at least be able to easily switch to the new standard in case it'd ever arise. Or does Wordpress have anything cooking that I should be prepared for?