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Separate Google campaigns by country when the markets require different budgets, targets, feeds, language or economics. Combining markets can be simpler when they genuinely behave alike.
Country-specific campaigns give you control over:
They also make profitability easier to interpret.
Ten tiny campaigns with almost no conversion volume can reduce useful data and make management difficult.
Product availability, shipping and Merchant Center country settings need to support the market properly. Do not simply duplicate a domestic PMax campaign into a new country and assume the economics follow.
Separate markets when there is a reason you want Google to treat them differently.
If two countries share currency, language, margins and fulfilment and perform similarly, one structure may be enough. The same principle is covered in one Meta campaign for multiple countries or separate campaigns.
If your international Google account is either over-fragmented or hiding market-level performance, send us an inquiry. We can restructure it around the real commercial differences.