With the NWT in need of improved infrastructure such as highways, housing and fiber optic links, the Premier said the devolution deal is an important part of the equation for future development. Tourism will also play a big part in the territory's growth.

Since 2010, Canada has had Approved Destination Status from China and the country has quickly become one of the top choices for Chinese tourists.

According to NWT figures, Chinese tourists added 1.5 million dollars to the territory's economy in 2011. But McLeod noted that the market was only in its infancy. "Our research and the Canadian Tourism Commission research indicates that Canada is the most favored destination now, so there's a lot of Chinese that want to visit (NWT)," McLeod said.

"There's about 30 million people in their middle class that travel and there's an indication about 100,000 are interested in coming to the north, so we want to get all of them to come visit," McLeod noted.

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