The traveling salesman problem (TSP) consists of finding the length of the
shortest closed tour visiting N ``cities''. We consider the Euclidean TSP where
the cities are distributed randomly and independently in a d-dimensional unit
hypercube. Working with periodic boundary conditions and inspired by a
remarkable universality in the kth nearest neighbor distribution, we find for
the average optimum tour length = beta_E(d) N^{1-1/d} [1+O(1/N)] with
beta_E(2) = 0.7120 +- 0.0002 and beta_E(3) = 0.6979 +- 0.0002. We then derive
analytical predictions for these quantities using the random link
approximation, where the lengths between cities are taken as independent random
variables. From the ``cavity'' equations developed by Krauth, Mezard and
Parisi, we calculate the associated random link values beta_RL(d). For d=1,2,3,
numerical results show that the random link approximation is a good one, with a
discrepancy of less than 2.1% between beta_E(d) and beta_RL(d). For large d, we
argue that the approximation is exact up to O(1/d^2) and give a conjecture for
beta_E(d), in terms of a power series in 1/d, specifying both leading and
subleading coefficients.