A woman has died in a rafting accident in a remote part of Tasmania's southwest.

The 49-year-old woman from Tasmania's south drowned on Thursday afternoon.

Initial investigations indicated her raft flipped in the rapids of the Franklin River.

Members of the rafting party attempted CPR on the woman, but she was unable to be revived.

The group of 12 were on a rafting trip in the Franklin River, deep in the Tasmanian World Heritage Wilderness Area.

Tasmania Police Search and Rescue officers, helicopter resources and paramedics retrieved the group near the Livingston Rivulet and the Coruscades rapid on the Franklin River on Friday.

No other members of the group, including the victim's partner, suffered serious physical injuries.

Helicopters attempted to retrieve the group on Thursday

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