This work analyses recent trends in the localisation strategy of industrial firms and the consequences for economies affected by relocalisation processes. We describe the main objectives of relocalisation, namely the search for new markets and cost reduction, and evaluate both the choice of an emerging country as a destination for new factories and the implications of such a decision for corporate social responsibility. Finally, we carry out an in-depth study of the Spanish case, indicating ways to maintain and improve the competitiveness of firms in Spain from both the business and institutional perspectives. This is a very topical matter following the recent relocalisations in our country.