I don't think there is a definite answer. If there are no purely statistical issues (See Maarten Buis' answer) than this is a more theoretical issue.
The way I see it, is while many properties are naturally multi-categorical, there is not always a logical reason of making use of all that data. It can make a model cumbersome, and it might be self defeating. Lets say we have a variable $x_1$ with $d$ levels. If $x_1$ is a control variable, it might not make a big difference in using it as is (besides being an eye-sore). If, however, $x_1$ is an effect that is theoretically interesting, some reduction might be in order. I'll elaborate. Using $x_1$ as an explanatory variable means that we have $d-1$ categories, each with a coefficient which is the difference between it and the reference category. If we are determined to understand differences between world countries and Japan, than fine, but this conveys little information on the relationship between the other $d-1$ categories and themselves. When we are interested in measuring interactions with $x_1$, having many categories makes it very annoying to interpret. So oftentimes it would be prudent to think if there is logic behind merging categories. Perhaps East Asian countries can go together, maybe EU countries (maybe not). Maybe customers who are new are whats interesting and comparing them to various categories of seniority is not as interesting as to non-new ones. Many times clumping categories together will sacrifice specificity, but gain clarity - and that's not a bad thing.