Let's see how long it lasts, Europe's economy is terrible and their people are significantly poorer. I don't think their current welfare state is sustainable without tax revenue from large businesses. Eventually every European citizen will be a waiter, hotel staff, or a tour guide.
Also, the tech industry is not the only part of the economy. large parts of the EU are absolutely massive in terms of industrial machinery and scientific companies.
People on HN always seem to forget that a lot of money can be made by making something very high end which solves a specific problem, no matter if it is sexy or not.
the invasion of ukraine has a major impact on the european economy, but that has very little to do with the article in question...
And saying eventually everyone will cater to tourism is peak us ignorance. The tourism sector in eu is fairly small, even in the (over) touristic italy. Just the fact you mentioned this leads me to think you are an ignorant american that likes how people suffer from being poor and being exploited by big corpos...