The transatlantic wealth divide keeps getting wider

This is the Weekend Edition of Bloomberg Opinion Today, a roundup of the most popular stories Bloomberg Opinion publishes each week based on [Bloomberg]( This is the Weekend Edition of Bloomberg Opinion Today, a roundup of the most popular stories Bloomberg Opinion publishes each week based on web readership. [Rich US Tourists Will Make Europeans Feel Poor]( — Chris Bryant The good life … or the better life? Wealthy Americans are again expected to [flock to Europe]( in droves this summer, where they’ll splash out on [pricey hotels]( at the Paris Olympics or in the Mediterranean, vie for [Taylor Swift concert tickets]( and dispense generous restaurant tips. The tourism industry — which contributes 10% of European Union gross domestic product — will be delighted to welcome these big spenders. The locals, though, increasingly look like poor relations, at least in purely financial terms. While money isn’t everything, Europe would benefit from some soul-searching: Its high living standards are rightly treasured and help explain why it attracts [more than half]( the world’s international tourists. But these hard-won achievements are at risk unless politicians do more to boost productivity and maintain prosperity. Read the [whole thing](. Free read: [Gavin Newsom Is Ready for the Biden Emergency]( — Erika D. Smith [FedEx Stokes Investors With Hint of a Freight Deal]( — Thomas Black [Nvidia’s Murky AI Future Isn’t Reflected in Its Price]( — Nir Kaissar [The Petrodollar Is Dead, Long Live the Petrodollar]( — Javier Blas [New York City Schools Should Be Next to Ban Mobile Phones]( — Michael R. Bloomberg [Boomer Candy Business Is Booming]( — Matt Levine [The Real Reason to Worry About the Huge US Budget Deficit]( — Bill Dudley [No, Elon, a Tesla Won’t Fix Justin Timberlake Problems]( — Liam Denning [The US Is Learning the Wrong Cold War Lessons on China]( — Minxin Pei More From Bloomberg Opinion Here’s what we’ve been listening to and watching this week. - X Broadcast: [Trump vs. Biden](: Key insights from the first 2024 debate with Timothy L. O’Brien, Nia-Malika Henderson and Francis Wilkinson - What will the two potential leaders of the US do to fix [housing inflation](? Kyla Scanlon breaks down the numbers and their policies. - Allison Schrager explains why more young people are looking at [careers in the public sector](. Follow Us Like getting this newsletter? [Subscribe to Bloomberg.com]( for unlimited access to trusted, data-driven journalism and subscriber-only insights. Before it’s here, it’s on the Bloomberg Terminal. Find out more about how the Terminal delivers information and analysis that financial professionals can’t find anywhere else. [Learn more](. Want to sponsor this newsletter? [Get in touch here](. You received this message because you are subscribed to Bloomberg's Opinion Today newsletter. If a friend forwarded you this message, [sign up here]( to get it in your inbox. [Unsubscribe]( [Bloomberg.com]( [Contact Us]( Bloomberg L.P. 731 Lexington Avenue, New York, NY 10022 [Ads Powered By Liveintent]( [Ad Choices](