"Europe Has a New Economic Engine: American Tourists" - for the Wall Street Journal, June 2024

"The Americans are here, and this sun-bleached coastal city is booming.

At bars, hotels and restaurants that line winding cobblestone streets, business is so good that Mayor Carlos Moedas recently slashed local income tax for residents. With economic growth of 8.2% last year and a 20% rise in tax revenue from prepandemic times, he’s also made public transportation free for young people and the elderly.

Can Europe’s emerging “museum economy” support sustained wealth creation and the expansive welfare systems Europeans have become accustomed to since the end of World War II? And what happens if the dollar falls and the tourists leave?" - writes journalist Tom Fairless in this interesting long read.