Europe doesn’t need any lessons on growth. On September 16, we’ll be revealing 500 reasons why

For over a decade, Europe has been grappling with sluggish economic growth, according to Mario Draghi. While various attempts to stimulate economic activity have come and gone, the trend has remained stagnant. Compared to the U.S., the Gulf, and Asia, Europe's mature markets have struggled. Since the financial crisis, the euro-area's GDP growth has averaged a mere 0.9% per year, while the U.S. has seen growth above 2%.

Despite these challenges, there are reasons for optimism. On September 16, Fortune will unveil its annual list of the 500 largest European companies by revenue, known as the Fortune 500 Europe. This list will feature powerhouses like Volkswagen, Shell, and Glencore, providing valuable insights into their financial performance.

In addition to the index, Fortune CEO Forum will gather business leaders from across Europe and the Middle East to discuss growth strategies and share best practices. Notable attendees include leaders from Anthropic and OpenAI, as well as CEOs from Ferrari and Volvo Cars UK. The U.K. chairman of energy giant EDF will join board members from NatWest and the CEO of Société Générale.

Europe boasts world-class universities, is a global AI leader, and has thriving financial centers. The continent's manufacturing sector, which includes cars and windmills, is among the best in the world. Europe also leads in energy sustainability research and non-fossil fuel production.

Recent data shows that innovation performance in Europe has increased by 11.6 percentage points since 2019. The U.K., Europe's second-largest economy, outperforms the EU average by more than 30 percentage points. The continent's education and healthcare systems are among the top in the world.

Despite the energy price shock caused by recent geopolitical tensions, Europe's economic growth has proven more resilient than expected. Goldman Sachs attributes this resilience to declining energy dependence, supportive fiscal policies, rising defense spending, and robust household income growth. Consumer confidence remains positive despite high inflation, and family liquid assets continue to rise, with incomes up without the wealth inequality issues seen in the U.S.

Europe's business leaders recognize the need for collaboration and policy cooperation to turn this growth impulse into a lasting trend. Draghi emphasizes the importance of removing obstacles, harmonizing rules, and coordinating policies. The focus now shifts to execution, with Fortune CEO Forum providing a platform for businesses and policymakers to work together towards Europe's economic future.