Published: Dec 11, 2011 3:14 PM EST
Updated: Dec 12, 2011 7:30 AM EST

DUBAI, United Arab Emirates (AP) - The European Tour says it has agreed to keep the final event of the Race To Dubai in the city for three years and increase the prize money by $500,000 to $8 million.

European Tour chief executive George O'Grady said Sunday the next three editions of the Dubai World Championship - which will be rebranded as the DP World Championship, Dubai starting in 2012 - will also return to Jumeirah Golf Estates, the host course since its inception in 2009.

The Race To Dubai includes 52 tournaments in 29 countries and concludes in Dubai.

O'Grady also said the tour hasn't been hurt by the economic downturn, insisting it is struggling to accommodate all tournament hopefuls in the calendar.