More than 40,000 vouchers were made available as part of the Regional Travel Voucher Scheme. it follows the 70,000 $200 vouchers used by Victorians over the Christmas and New Year period.

Bendigo Motel Association president Kristyn Slattery and Bendigo Heritage Attractions CEO James Reade both said they were more printing receipts for customers who were redeeming vouchers.

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"The vouchers have definitely helped but it's hard to tell if they are the main motivator for visitors (coming to Bendigo)," Ms Slattery said. "With the border closures people had to stay in the state. With coastal and inland river options booked out, people looked further inland and Bendigo got some benefits it doesn't normally see.

"(January) has been better than we expected. Some motels are equaling their good years and others having record Januarys, which is an amazing way to start year after such a hard 12 months."

Mr Reade said he had noticed more people were visiting the city's attractions.

"Normally it quietens down at this point of January but we have remained steady," he said. "The bookings in to February are looking positive as well.

"We had a really good December and January with December being busier than normal with the Elf Academy having 5000 people visit it.

"People have been really supportive. There are still a few restrictions with COVID but there are still good numbers and volumes of people visiting. People are getting out and enjoying regional Victoria and after the year had, we are more than happy to open our doors."

Ms Slattery said the recent cancellation of March events - the Lost Trades Fair and the Bendigo International Madison - were concerning for accommodation providers.

"That's a bit scary looking for the moteliers books," she said. "Bendigo is reliant and active in the events space.

"We were hoping the March long weekend would be something look forward to. It's a bit scary thinking that big event which attract big numbers aren't happening.

"That's a key part of our rebuilding. We need visitors to the town. Hopefully a three-day weekend is incentive enough (for people to visit) even without major events on."

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This round of travel vouchers are redeemable between January 27 and April 1. Travellers can redeem their vouchers after their holidays. They are limited to one per household with travellers required to spend at least two nights in paid accommodation in regional Victoria.

"More people travelling in regional Victoria means more money over the counter for businesses that are recovering after a very difficult 2020.," tourism, sports and major events minister Martin Pakula said.

The next round of 40,000 vouchers will be available from March 30 for travel between April 6 and May 31.

For more details go to www.vic.gov.au/regional-travel-voucher-scheme