Europe’s economy has generated unprecedented wealth over the last century. Part of the success is attributable to continuous improvements in resource productivity – a trend that has started to reduce Europe’s resource exposure. At the same time, resource productivity remains hugely underexploited as a source of wealth, competitiveness and renewal. This study provides new evidence that a circular economy, enabled by the technology revolution, allows Europe to grow resource productivity by up to 3 percent annually. This would generate a primary resource benefit of as much as €0.6 trillion per year by 2030 to Europe’s economies. In addition, it would generate €1.2 trillion in non-resource and externality benefits, bringing the annual total benefits to around €1.8 trillion versus today.