Yukon The Yukon Territory represents almost 5% of Canada's total land area and has a population of 31,240. It is one of the world's last frontiers and displays abundant natural resources, cultural depth, untapped business potential, and a rich quality of life.

Key Industries

Tourism
Approximately 290,000 visitors generate revenues exceeding $164 million annually. Tourism is the Yukon's largest private sector industry with distinct markets in wilderness and recreational adventure, wildlife viewing, highway travel, spring and winter aurora viewing and a wealth of historical and cultural attractions.

Mining
The Yukon's historical relationship with gold continues today, with the territory experiencing a high number of significant discoveries and an increase in claim staking. Total gold production was valued at $30 million in 2005. The Yukon also boasts high-quality emeralds, copper, lead, tungsten, zinc, silver, coal, and one of the world's largest iron ore deposits.

Oil and Gas
Natural gas production was valued at over $98 million in 2001. The Yukon's eight unexplored oil and gas basins are rich in potential given the growing demand for energy in North America.

Construction
The total value of permitted building construction contributed $76 million to Yukon's economy in 2005. The construction industry has developed numerous innovative projects and solutions to the unique challenges of building in remote wilderness regions and Arctic weather conditions. The Yukon is at the forefront of northern construction expertise with environmental and energy efficient design paired with new standards for foundations, walls and ventilation systems.

Art and Culture
Creativity flourishes throughout the Yukon. The territory boasts one of the country's highest concentrations of artists, artisans and musicians on a per capita basis. Traditional Aboriginal art, a growing and internationally acclaimed music industry, and new media technologies, join painters, sculptors, jewellers, dancers, poets, and writers on the global stage. The territory's burgeoning film industry is renowned among filmmakers for reliable snow locations, highly skilled local crews and close to twenty-four hour daylight in the summer.

Yukon's Contribution to the Economy

• Almost $1.3 billion of gross domestic product in 2006 (forecast).
• Highest level of tourism contributions per capita to Canada's gross domestic product in 2002.
• Second highest number of small businesses per capita in Canada in 2002.
• Third highest per capita contribution to Canada's gross domestic product in 2002.
• Third highest income per capita in Canada per taxable return in 2000.

A Look to the Future

The settlement of land claims and self-government agreements for the Yukon's fourteen First Nations, paired with devolution, gives the Yukon control over decisions relating to its land and resource development, and yields some of the most significant impacts on economic development in the territory. Long-term benefits will allow future changes in policy and program delivery to be made by the Yukon government to meet the needs of its residents, and for the Yukon and First Nation governments to harmonize and coordinate their efforts. The growing demand for natural gas in North America has dramatically increased the need to access northern Canada's vast natural gas reserves and route them to market. The proposed Alaska Highway Pipeline Project anticipates a total contribution of $26 billion to the economies of Canada, the Yukon, and the North, with a real business investment of $10 billion. Much of the preparatory design, engineering and socio-economic and environmental groundwork for the Alaska Highway Pipeline project has already been laid.

The territory's vast mineral potential is competitive with any jurisdiction in the world and many mineral-rich areas remain virtually undiscovered. The territory possesses abundant and diverse resources, including vast fossil fuel and mineral reserves, lakes and rivers, as well as windy and mountainous terrain. Boreal forests cover 57% of the territory, and to balance economic and environmental considerations, high value timber harvests occur over small areas.

Based on the migration patterns in the United States in which skilled IT workers are relocating to natural settings in increasing numbers, the Yukon is poised to become a popular Information Technology (IT) centre. The Yukon IT sector includes over 60 firms, and notably, more than 90% of Yukon residents have available access to high-speed Internet connections and over 50% of businesses are currently online. E-commerce removes traditional obstacles of geographic distance, small markets and a sparse population, and plays a vital role in economic diversification.