This report marks the start of a new stage in analysing the competitiveness of the Basque Country. In Chapter 1, we analyse the history of competitiveness in our territory, focusing on the characteristics over the past decade of a strategy begun more than 40 years ago. We also identify the challenges continuing that strategy currently presents. With the aim of guiding the next stage of the strategy, based on these challenges, in Chapter 2 we propose a new framework to drive territorial competitiveness. This is the result of a process of reflection, consultation and experimentation at the local and international level. In Chapter 3, we present a preliminary assessment of competitiveness and wellbeing in the Basque Country based on the core of the new framework. In Chapter 4, we conduct an exploratory analysis of some dimensions of the levers of competitiveness for wellbeing identified in the framework. Lastly, in the final chapter, we present the main conclusions of the assessment and reflect on the steps needed for this new framework to evolve as a beacon to guide the continuous improvement of competitiveness for the wellbeing of the Basque Country.