Europe is pretty comparable to the US in terms of the GDP and population:
GDP: EU + UK = $19.7T / US = $25.5T
Population: EU + UK = 514M / US = 332M
While, the source of wealth creation is very different, where the US is driven by tech, while the EU is all about traditional industries. For instance,
Ten richest people in Europe and the source of wealth:
1 Bernard Arnault / LVMH
2 Françoise Bettencourt Meyers / L’Oréal
3 Amancio Ortega / Zara
4 Dieter Schwarz / Schwarz Gruppe
5 François Pinault / Kering
6 Klaus-Michael Kühne / Kühne & Nagel
7 Giovanni Ferrero / Ferrero
8 Mark Mateschitz / Red Bull
9 Alain Wertheimer / Chanel
9 Gerard Wertheimer / Chanel
Ten richest people in the US and the source of wealth:
1 Elon Musk / Tesla, SpaceX
2 Jeff Bezos / Amazon
3 Bill Gates / Microsoft
4 Larry Ellison / Oracle
5 Mark Zuckerberg / Meta
6 Larry Page / Alphabet Inc.
7 Warren Buffett / Berkshire Hathaway
8 Sergey Brin / Alphabet Inc.
9 Steve Ballmer / Microsoft
10 Michael Bloomberg / Bloomberg L.P.
The glass-is-half-full thinking here would be, as tech development is becoming more global, there are huge new opportunities to be unlocked in Europe; of course the same can be said about Asia too.