What's the distinction? That the settlers were inferior catholics? (Of course other Europeans at later stages like in Argentina.)

In any case you can cherry-pick any variable you want when talking about such disparate nations.

I expanded in another comment:

> "ambitious, motivated, solid work ethic, respect for education and legitimate entreprise".

Spanish and Portuguese settlers, for reasons that are beyond me, didn't manage to create societies where these values are at their core.