What effect does switching frequency have on a switching booster circuit?

In what cases/application is a high switching frequency desired and vice-versa? I'm trying to choose a DC-DC booster IC and I don't quite know how the switching frequency will affect the circuit. Only thing I can think of now is the speed of the Schottky diode that goes after the inductor, but other than that, I don't know. Google isn't very helpful on this one (or maybe I 'm not use the right keywords) so any help is greatly appreciated.

Like Dave says your inductor can be smaller. A switcher first stores the supplied energy in the coil's magnetic field and reconverts that to an output current, a number of times per second. The higher the frequency, the shorter the period and the time for which it has to store the energy. Energy = power $\times$ time, so a 10 times higher frequency means the coil has to store ten times less energy.