I think it's a few things. 

1. People in Europe generally do dress better, they care about looking well put together. This is just a cultural thing.
2. The demographics of Europe and NA are way older when compared to Asia. There are just fewer young people, in nice restaurants and everywhere else.
3. Yes, the economy is failing young people in both NA and Europe, much worse in Europe IMO. That said, the cost of a very nice meal out in Europe is still way way lower than it is in the US.