Choosing a domain name in 2016
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Hi!
1: i would stay with your .com domain, .eu is terrible in regards to ranking. .com ranks well in Europe and saves a lot off time as Europe contains of a lot of different countries to target; .fr .it .de. .co.uk etc... Next i would go for www.mydomain.com/france in stead of www.mydomain.com/fr as this already helps SEO wise and you have the domain authority of your current domain
2. see 1
3. see 1
Good luck!

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"My company has a got a name in the industry as well as some amazing reviews on google + and other forums. "
This alone answers 2 and 3. You have a brand and that's more powerful than an exact match domain, it differentiates you from your competitors.
As for "If you were to use the same domain would you do fr.mydomain.com or www.mydomain.com/fr." I would choose www.mydomain.com/fr but that's just personal preference.
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Why mydomain.com/france? This just makes the url much longer and the two letter country codes are recognised by most people?
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Thank your your replies but isn't a exact match domain more powerful than a domain with links and history ?
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Hi Thomas, to rank on bicycle trip france maybe?
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but mydomain.com/fr with the correct code would do that?
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It's a small ranking factor, but if you've got an established domain then I would say your established domain is more valuable.
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Sure would help also. I personally like the word in the URL.
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It does not make sense the way you are telling him how to do it.
or
just use country codes DO NOT use /french - /english - / spanish
It would make sense to use subdomains rather than subfolders.
Good luck!
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it does make sense: my point is that bycicletrip.com/france is a good Landing Page url.