I spent most of July in Canada. It was partly family visit and partly an unforgettable week and a half in Newfoundland, an island which is Canada's easternmost province. In fact Cape Spear, right near St. John's (the capital city), is the easternmost land mass of North America.

Newfoundlanders (known affectionately as "Newfies") are often the butt of Canadian jokes, portrayed as naïve, simple folk. But my impression is that the 500,000 Newfies with a gorgeous island (five times the size of Israel) rich in natural resources (including offshore oil) are having the last laugh.

There are several business lessons that can be learned from Newfoundland's successful transition from being one of Canada's poorest provinces to having the second highest (per capita) GDP:

It's all about the people: From May through September Newfoundland hosts about 300,000 tourists. But even in the most touristy places one gets the feeling that the locals, unrushed and unflustered , have agreed to share their home with you.

Shared values: With Intense pride in their shared history of "taming" a not-so-hospitable territory (tough weather, isolation), Newfoundland is united by a strong code of honesty, hard work and helping one's neighbor. This code guides their personal lives as well as their business activities.

Flexibility and thinking "out-of-the box":  On July 2, 1992, due to depleted fish stocks, the Canadian government put an end to the 400-year-old cod fishing industry. This move put 30,000 people (12% of the work force) out of work overnight. Over the last 18 years Newfoundland, with substantial help from the Canadian government, has successfully re-invented major sectors of its economy.

If you're looking for a great place to be re-inspired by beauty of nature and have your faith restored in humanity, I strongly recommend Newfoundland.

Best regards,