SA residents are being encouraged to head to the river with three rounds of vouchers offered as incentive.
More than 25,000 vouchers will be released as part of the Rise up for our River' scheme, starting next month, with the result expected to inject millions of dollars into communities along the River Murray.
Tourism Minister Zoe Bettison said it was exciting to be able to launch the program.
"Just like the post-bushfire #BookThemOut campaign and the successful Great State Voucher program, we are urging South Australians to go and take a holiday for a good cause - this time, to "Rise up for our River" and help tourism operators impacted by this once-in-a-century flooding event," she said.
"The Murray River is an incredible natural wonder right on our doorstep and a truly iconic Australian holiday experience, so let's get out there and support our fellow South Australians in our river communities."
With values of $50, $100 and $200, vouchers can be used for experiences and accommodation in the Riverland and Murray River, Lakes & Coorong regions.
A $750 houseboat voucher will also be introduced in rounds two and three.
Tourism operators right along the river have been significantly impacted by the flooding event, with many being closed since late last year.
Ms Bettison said tourism recovery in the regions had gone from strength-to-strength with eight consecutive months of record-breaking occupancy, but businesses along the Murray had not had a chance to enjoy that strong demand.
"I implore South Aussies to make sure they register for a River Revival Voucher when they're available, book a holiday and enjoy everything that is on offer," she said.
"From wine and food, nature at its best, accommodation from camping and family-friendly caravan parks to 5-star luxury getaways - our river regions have it all."
The first round of vouchers is valid for travel during April, May and June - including the Easter break and the April school holidays.
The campaign showcases iconic river locations, highlights tourism operators along the river and calls on South Australians to throw their support - and dollars - to impacted river communities.
Australian Tourism Commission chief executive officer Emma Terry said it was great to work with operators and industry to make the program possible.
"We have been working closely with Regional Tourism Organisations and industry to design a program that will support the visitor economy over coming months and through these crucial stages of recovery," she said.
"As a part of the Murray River Tourism Recovery Working Group, which has been instrumental in getting this campaign right, we can now look forward to charting the recovery of the river regions and getting them back on track with the rest of the state heading toward its once record $8.1 billion high."
Prior to the flooding event in late December 2022, tourism in the two regions was worth a combined $436 million and directly employing 2800 people across both the Riverland and Murray River, Lakes & Coorong.
With the river receding, more tourism operators are now re-opening or in the process of cleaning up and plan to re-open in coming weeks.
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Juggle House Experiences/River Murray International Dark Sky Reserve Tours owner Kelly Kuhn said the past four months of business downturn had been "equal parts financial loss and environmental gain".
"We know from the COVID lived experience, this voucher system has a win-win outcome for everyone involved and is a saviour for small business," she said.
"The vouchers are a direct and fast cash injection to our river communities providing aid in bouncing back to business, while at the same time, showcasing the gems of the 'Mighty Murray' for our customers to become greater ambassadors."
Murray River Trails owner/director Tony Sharley said the program was built on feedback from the region.
"This will be our most spectacular touring season, so for those who are lucky enough to score a voucher, this is your chance to use it to discover a revitalised river system with flourishing forests and rejuvenated wetlands," he said.
The vouchers have been timed and staggered based on feedback from the industry, and after consultation with operators including last week in Renmark, Berri and Murray Bridge, and through the SATC's River Recovery Working Group.
For the first time in the SATC's voucher program history, caravan park sites have been included, adding several thousand more options across the region as the larger parks re-open, such as Discovery Parks Lake Bonney, Big 4 Renmark Riverfront and Waikerie Holiday Park.
During the flood event, 10 of the 22 SA Parks properties were forced to close, with five remaining closed, while others are either open or in the process of recommissioning.
Three were significantly impacted and have not yet set a date to reopen.
By April, almost 8000 cabin beds and camping sites are expected to be available in parks across both Riverland and Murray River, Lakes & Coorong regions.
This is in addition to more than 900 rooms across hotels and motels, and about 260 rooms in almost 80 villas, homestays and world-class retreats.
For the experience hunters, hosted winery experiences, river sightseeing tours, Aboriginal cultural tours, guided brewery and gin distillery flights, and canoe adventures are all likely to be up for grabs.
Premier Peter Malinauskas said the government had committed $190m to drive the recovery of these regions with this a big step in the right direction to get people travelling again, spending up, filling the cafes and pubs, and helping the river economies recover strongly and sustainably.
"While we support the tourism industry in the region, we also acknowledge that many operators are still very much in recovery," he said.
"We stand ready to support them all the way through the clean-up process, and right into rebuilding."
An additional $500,000 will be provided for a further round targeted towards businesses that are still to reopen, such as affected areas of the Mid-Murray Council region.
Registrations for the ballot open March 27 to 29, with travel from Friday March 31 to Tuesday June 29 (inclusive), bookable seven days a week including Saturdays, Easter and the April school holidays.
The SATC will invite tourism businesses to participate in round one through an expressions of interest, which opens Wednesday March 1.
Consumers can register their interest in receiving information about the River Revival Vouchers at southaustralia.com/voucher.
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