Low Earth Orbit (LEO) is considered the area in Earth orbit near enough to Earth for convenient transportation, communication, observation and resupply, up to 2,000km (1,200 miles) or less.
A satellite that is close to the Earth, in what is called a ‘Low Earth Orbit’, travels at approximately 17,500 miles per hour. In Low Earth Orbit, it takes about 90 minutes to go around the Earth once. That’s about the same time it takes to fly from London to Paris! And the satellite goes all the way round the world.
Some satellites operate even higher. The higher it is, the slower it needs to travel to stay in orbit.
Have a look at this document from NASA: LEO Economy FAQs
Watch this video: Low Earth Orbit Satellite: All You Need To Know