As well as what wrs said in a sibling comment, iCalendar does not have a way to specify the location of a meeting in a machine-readable way that can be turned into the timezone for that location.
Sadly, iCalendar is very much tied to using timezones for locations. I expect that if/when Europe finally gets round to abolishing DST, there will be some significant changes to the timezone boundaries, and as a consequence, much hilarious calendaring failure. Dunno if it will affect as many people as the 2007 DST changes in North America, which caused a lot of extra work for people running Microsoft Exchange, because it was designed assuming that timezones never change. And this design error carries over to iCalendar, tho (apart from tz boundary changes) it is better than it was.
Sadly, iCalendar is very much tied to using timezones for locations. I expect that if/when Europe finally gets round to abolishing DST, there will be some significant changes to the timezone boundaries, and as a consequence, much hilarious calendaring failure. Dunno if it will affect as many people as the 2007 DST changes in North America, which caused a lot of extra work for people running Microsoft Exchange, because it was designed assuming that timezones never change. And this design error carries over to iCalendar, tho (apart from tz boundary changes) it is better than it was.