Sad. Only in Europe.
No, not at all. Thailand has one of the biggest sex markets, both for domestic and foregin consumption; Brazil, Japan, East Africa and of course other Eastern European countries such as Russia, Ukraine, etc.
I think the common denominator is an abundance of beautiful women, limited consumption power, globalization, and a burgeoning market of foreign demand. Of course, Japan is an exception in that they have strong consumption power, but many of the world's women are trafficked or relocated to their local market. In the case of teenagers prostituting themselves for luxury products, they have the exact same problem.