Biscay (in Basque and officially Bizkaia and in Spanish Vizcaya) is a province of Spain and a historical territory of the Basque Country, heir of the ancient Lord of Biscay. Its capital city is Bilbao. It is one of the most prosperous and important provinces of Spain as a result of the massive industrialization of the last years of the 19th century and first half of the 20th century. Currently, the industrial activity has given away space to an important activity in the services sector, especially since the deep deindustrialization of the 1970s.