Many major cities are built on the coast, so yes. Pull out a map of the US or Canada. There are many many many cities built on/near the coast. Take a peak at a map of Europe, same thing. Historically, access to the sea has always had advantages (read: military), so therefore...many major cities...edit: Also, wouldn't striking the oceans cause significant environmental impacts as well? Maybe not as cataclysmic as hitting land, but certainly there would be massive tidal waves at the least.
In addition, thats why some people are worried about polar ice caps melting. Because if the sea level keeps rising then many coastal cities will be flooded.