One advantage of teaching English in Europe for Americans is that it is possible to gain a work visa for working in Germany. Note that the process does take some time, paperwork & financial investment (namely supporting yourself for 1-2 months while establishing residency).
A solid hourly wage affords English teachers to live a very comfortable life. Schools typically offer around 20-25 hours per week of work, leaving you plenty of time to travel and explore. English teachers need to have a TEFL certification and a BA/BS is preferred, but not required. Major cities for employment opportunities teaching English in Germany include typically major cities like Berlin, Stuttgart, Frankfurt, Hamburg, Dusseldorf, and Wiesbaden. Many teachers find that job markets are somewhat less competitive in smaller cities that are not as well known as well as cities in former East Germany like Dresden.
For more information about teaching English in Germany, check out our Germany Blog