Why some CEOs still choose Europe over the U.S.

In today’s CEO Daily: Unpacking the areas where Europe still has an edge.

The big leadership story: Are we on the cusp of a productivity boom?

The markets: Mostly down as investors await news of an Iran peace deal.

Plus: All the news and watercooler chat from Fortune.

Good morning. I’m in Monaco this week, speaking with leaders from 46 countries competing in EY’s World Entrepreneur of the Year competition, which takes place tonight. Being here is a reminder that U.S. leaders may be too quick to write off Europe as a place to invest, hire or expand. For all the complaints about regulatory costs, labor laws, risk-taking, energy costs and other challenges, there are merits to creating companies here. A new EY study found 60% of businesses surveyed expect Europe’s attractiveness to increase over the next three years. Here are some perspectives from successful CEOs there who help explain why.

Johannes Reck is CEO of GetYourGuide, a Berlin-based travel platform valued at more than $2 billion, with 50,000 supply partners, over  200,000 experiences and more than 33 million bookings logged in the past year. Reck has turned down multiple offers to move to Silicon Valley since the site launched in 2009 because Europe has clear advantages. “It’s where most of the international tourists actually go,” he told me recently, noting that the continent also boasts a strong immigration system and deep pool of multilingual talent. “We see a lot more loyalty of staff in Europe versus the U.S. If I look at longevity and turnover costs, it’s much,........

© Fortune