Abstract
This study focuses on analysing economic developments in the Balearic Islands between 1950 and 2015, with an emphasis on the process of the loss of industrial assets and the decisive advance in the service sector, particularly tourism. Theoretical arguments from the economic literature are used to specify whether this industrial decline, which involves the outsourcing of the economy, is due to the absolute disappearance of any other initiative apart from the service sector. The authors use macroeconomic variables of Balearic Islands to set the general context, and an analysis of the input-output tables, a key tool in national accounts, in order to study this hypothesis: services in mature economies can stimulate transformation activities if a more comprehensive and current view of the manufacturing concept is adopted.
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