The article discusses the economic stagnation in Europe, particularly highlighted by the situation in Florence, which, while historically significant, suffers from a lack of entrepreneurial opportunities. Tourism boosts the economy, but it does not provide sustainable job growth. Many entrepreneurs are leaving for the Anglosphere due to a conservative business culture and a heavy welfare state. The article suggests that Europe's future may lie in its peripheral regions, like Portugal and Greece, which are experiencing a business resurgence and can lead the continent into a new era of growth.
Tourism has a dual effect... Some benefit but there's not a lot of opportunity. Genuine entrepreneurs increasingly seek exile in the Anglosphere, while workers remain in low-paying service jobs.
If the Old World needs to reclaim the magic of the Medici, the continent's redemption will come far from Florence. Europe's periphery is leading the way...with sunny business prospects.
Europe's economy is broken. Over the past 15 years, the Eurozone has grown about 6%... The biggest gap is in tech: of the top 50 tech firms, only three are located in Europe.
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