International Selling Domains and Load Balancing

This is a two part question regarding selling over multiple countries and hosting for them.

I currently have a website that is hosted in London but we also sell to a lot of international countries. I am currently waiting on translations for each of these websites but I am unsure how to go about changing the website into more of a global website.

Currently we are using: domain.com and we are thinking of going two routes:

domain.com/fr domain.com/es

The folder route will be best for SEO i’m guessing but i’m thinking the TLD route might be more beneficial in the long run:

domain.fr domain.es

If I was to go with using the TLD for each country code then how would I go about setting up the system. Would it be expensive? Would it be difficult to achieve?

I was thinking of eventually getting the website hosted across of each server location on digital ocean. I know nothing of this so any information will be much appreciated.