As a result of unfavourable fiscal, demographic and institutional environments, both Europe and the US face major adjustments regarding their standing in the world (“Europe’s real tourist trap”, Opinion, June 15).
Europe’s problems are more acute than those facing the US, which continues to be an economic powerhouse, especially in employment and productivity (Report, March 11).
The continent will have to ramp up its profile as a vacation/educational venue by marketing its rich history, incomparable cultural institutions, celebrated culinary delights and, not least, its enviable luxury goods sector, especially in North America, which is becoming less “European” as the century advances.
The primary targets for this advertising campaign should be schools and streaming services in the Americas and Asia. The fundamental question is can Europe maintain its living standards without becoming just a living history museum like the “Colonial Williamsburg”?
Ira Sohn
Emeritus Professor of Economics and Finance, Montclair State University,
Upper Montclair, NJ, US