Are you trying is to do this on localhost by any chance? Print your IP.
{% ip %}
{% AnalyticsContext.CurrentGeoLocation.Country.DisplayName |(identity)GlobalAdministrator%}
Google 'resolve ip to location' and see if your IP is getting resolved.
If
- in the settings: On-line marketing > Contact management > Geolocation > General
Enable contact geolocation by IP
is checked
- file
\App_Data\CMSModules\WebAnalytics\MaxMind\GeoLiteCity.dat
exists
it must work.
P.S. You can download monthly database updates from client portal: http://client.kentico.com/Download#GeoIP or from max mind.