Spending big to lure the Euro-tourist to the Klondike is the territorial government's latest venture in stimulating tourism.

Today, that industry received a big boost with a two-prong investment aimed at overseas marketing and attracting more conventions to the capital.

In total, $500,000 goes to marketing the territory to European and Asian travellers while the Yukon Convention Bureau (YCB) will see its $100,000 annual budget doubled for this year.

This recent money infusion brings the government's investment in tourism to more than $5 million annually.

Tourism and Culture Minister Elaine Taylor made the announcement at the Whitehorse Visitor Information Centre this morning.

The decision to invest in these areas, said Taylor, was made after consultation with the Tourism Industry Association of the Yukon (TIA).

"The issue at hand was how the government of Yukon could ... better improve the economic climate or get prepared (for what faced the tourism market here)," said Taylor.

According to TIA president Rod Taylor (no relation), the fledgling economy south of the Canadian border is impacting tourism here on two fronts.

"On the one hand, they don't have the money to come here because of the economic meltdown, but worse than that, their tourism industry itself is actually flourishing," said Taylor, adding visitation to the United States rose 9.5 per cent last year.

"That's a double whammy for us because not only do we have to compete against those guys, but their people aren't coming here."

Taylor said exploiting European markets, in particular those not as hard-hit by the global recession, is key.

After returning from a junket to Zermatt, Switzerland, he's confident this latest government spending will bode well in luring Europeans to the Yukon.

"People that are in Europe still have the money to go to Europe and (the tourism industry there is) not discounting to the point where they're making a concerted effort to keep people in Europe," Taylor said.

"So that combination makes them the perfect target for us, and from an industry perspective, that is exactly the thing we should be doing."

Taylor also lauded investing in the YCB as off-season travellers attending conferences in the territory "make the difference for most operators here."

Stephanie Churchill, the YCB vice-president, said the new money couldn't have come at a better time.

"(It) enables us to attract and secure events that will generate incremental tourism revenues," she said. "For every dollar invested in this sector, $12 is generated in direct spending that benefits Yukon's economy."

Of the half-million dollars to market the territory overseas, $100,000 will be spent this year and $400,000 in 2010.

Denny Kobayashi, the government's tourism marketing manager, said some of the money provides for the territory's contribution toward the Canadian Tourism Commission and some will go toward tour marketers in Europe and Asia.

"We're currently partnering with the Canadian Tourism Commission in market and seeing some great results there," Kobayashi said.

As for financial incentives to be offered to overseas companies selling Yukon adventures, the return on this investment could manifest itself in a variety of ways.

"It could mean increased Yukon packages, more suppliers, more sales efforts directly with them," said Kobayashi.

"If it's advertising, it'll be advertising in partnership with our tour operators in the markets."