A $50 million fund for South Island tourism operators goes live today, but won't help all businesses. 

It comes ahead of the return of Australian tourists from April 13, and other travellers from May 2. 

Grants of $10,000 - $50,000 will be given to businesses that have had a 50 percent drop in revenue. 

Franz Josef Wildlife Centre director, Richard Benton, told Mike Hosking late April is the end of the tourist season for many businesses and the region gets very little benefit from the ski industry. 

He says they're grateful for the grant, but aren't out of the woods yet. 

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