Businesses caught up in Australia's biggest manhunt are pleading for holidaymakers to return to the area before they go broke.

Travel restrictions have been reduced in Porepunkah and surrounding towns as a search for accused cop killer Dezi Freeman inches closer to its fourth week.

Freeman, 56, is accused of fatally shooting policemen Neal Thompson and Vadim de Waart-Hottart at a property in Porepunkah, about 300km northeast of Melbourne, on August 26 before escaping into bushland.

Police on Sunday lifted travel warnings in the area, before school holidays and the AFL grand final long weekend.

Mount Buffalo National Park remains closed.

Locals celebrated the news, declaring the area open for business.

Cherry Walk Cafe owner Leanne Boyd described nearby Bright as a "ghost town" over t

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