The Queen Victoria Market has been Melbourne’s marketplace since 1878. It is loved by locals and remains among the top international tourist destinations in Victoria. For over 140 years, the Market still operates as a traditional market and has been recognised as an historic place by Heritage Victoria and is registered on the National heritage list. As the largest open air market in the Southern Hemisphere, the 'Vic Market' houses more than 500 small businesses, including of a wide variety of fresh food traders and a large number of general merchandise traders, plus seasonal night market food and specialty shopping traders. The Queen Victoria Market Pty Ltd is a wholly owned subsidiary of the City of Melbourne. Queen Victoria Market Pty Ltd is responsible for managing the day-to-day operations of the Market. The company vision of the Queen Victoria Market Pty Ltd is to create a thriving and diverse marketplace for future generations. This is achieved through being responsive to customer needs, creating a platform for small businesses to prosper, and realising social, economic and environmental benefits for stakeholders. The Queen Victoria Market and surrounding precinct is currently progressing through a five-year program of restoration and renewal, begun in 2017. Known as the Queen Victoria Market Precinct Renewal (QVMPR) program, the $250 million City of Melbourne program is the biggest investment in the council’s history.