Porepunkah is a leading gateway to the Victorian skifields. The Porepunkah railway station opened in 1890 as part of the Bright railway line, and closed in 1983. The Murray to the Mountains Rail Trail, a popular cycling and hiking path built on this disused railway corridor, passes through Porepunkah. Close proximity to attractions such as Mount Buffalo, Buckland Valley, Porepunkah Airfield and wineries makes Porepunkah a popular holiday destination.
The Ovens and Buckland Rivers are popular with swimmers and fishers. The Buckland River contains mostly brown trout in the headwaters, some small rainbow trout, river blackfish and small redfin in the lower reaches. Spiny freshwater crayfish are also abundant.