There are strategic consequences of being seated one way or another around the table.

If you are seated in an early position you will have to act among the first and you will need a stronger hand to bet or raise.

If you have say...8 players act behind you there's a bigger chance that one of the eight players has a bigger hand than you do. This changes to your favor if there's only one other player acting after you.

Being in the late position will give you an edge over other players because you will get the chance to gather information about their hands and you will know how to act when the time comes.

Also since earlier opponents fold the probability of you having the best hand increases as the number of players decreases.