Internationalized Domain Name

Internationalized Domain Names (IDNs) are domain names or Web addresses, represented by local language characters. They have the potential to transform the Internet into a truly global and multilingual tool by enabling Internet users to navigate and communicate online in their preferred script.
IDNs improve the accessibility and functionality of the Internet for worldwide users. Registrars offering IDN services build on existing infrastructure and marketing to expand services and increase revenues.

World Wide Domain Info