The timing of this is difficult given recent lore changes. I will try my best to give you a breakdown of what the world is like, based on what is known. Better information is accessible from the wiki.
Bandle City
Yordle capital, mostly shrouded in mystery. Surrounded by mountains and near the eastern sea, close to Shurima and Bilgewater. They are very comparable to the typical Dwarves in most fantasy stories, small stature it is made up for with industrial prowess. A nomadic race previous to settling down in Bandle City. They are the second most technologically advanced nation, after Piltover and Zaun which are tied for first.
Bilgewater
Island pirate nation, occasionally hostile towards Bandle City and Ionia due to sea-raids. Generally associated with trading and some shady dealings. Due to the general nature of the populace and they trade ethics, this nation is somewhat friendly with Noxus but not officially allied.
Demacia
Human nation, extremely self-righteous and self-appointed apostles of truth and justice. Immense military strength, hostile towards Noxus. Draconian laws result in few to no misdemeanors. Wish to spread Demacian ethics to the rest of the world because they believe their "truth" and "justice" are the best, but would not do so by force.
Ionia
Island nation of mostly humans, highly spiritual. The Asia of Runeterra, boasts diverse culture, traditions, spirituality and magic. There are monks, ninjas, spirits, demons, ancient martial arts, you name it. If it is enlightenment you seek, Ionia is the place to be. Some of the finest warriors and most powerful mages are here, those that are not would probably have Ionia high on their places-to-visit.
Freljord
Northern nation, fallen from grace. A once mighty empire thousands of years ago under the rule of the Watchers, the Freljord is now a shadow of it's former glory. Consists of 3 main tribes that are at odds with each other. The harsh conditions and magical lineage are the cause of the generally tall, strong people.
Mount Targon
Mountain warrior nation, home of the Rakkor. This place has a mysterious, potentially bloody past. This is the Sparta of Runeterra. Like the Freljord, it has very harsh conditions and the people are here are strong. They have a cult like religion and do not tolerate blasphemy. Relationship with other nations are presumed to be neutral with potential for hostility.
Noxus
Human nation, values strength above all. A nation where you need to be strong or die. Friendly with Zaun and hostile towards Demacia. A fair share of less than honorable happenings. Very strong military, arguably only contestable by Demacia. Think Lawful/Evil.
Piltover
Mixed nation, technology driven. Hextechnology and techmaturgy innovation is king. Ionia focuses on enlightenment, Piltover focuses on progress. Arguably peaceful by nature. Generally friendly towards Demacia.
Shadow Isles
Undead nation, previously human island nation. A once lush, peaceful kingdom that was corrupted by a plague of undeath. Ruled by the enigmatic Ruined King. Presumably full of artifacts as ancient as the Watchers and Shurima. Little information is available.
Shurima
Ancient ruined nation, recently resurfaced. Much of the nation has been lost. At it's peak, they focused on progress of civilization instead of technology. eople are nomadic/tribal at the moment but that will likely change soon.
Zaun
Mized nation, biotechnology driven. Piltover's rival for all things technology. While Piltover is more about tools, Zaun invests more resources into biotech and alchemy. "Rules" and "safety" should be taken with a grain of salt in Zaun. Generally friendly towards Noxus, frowned upon by Ionia. They are not inherently evil, their desire is progress, much like Piltover. Their methods and the lengths they are willing to go to are what make them somewhat questionable.
