Restaurant owners are already feeling the impact and are attempting to prepare themselves for an expectedly huge growth by the time the Games come around in Queensland.

Alemré Group, owner of Olé on South Bank, Mecho Mexicano, Vici Italian and Downtown Istanbul, has been a part of the Brisbane hospitality scene for more than 12 years.

General manager Brandon Orr says population growth in the last two years has allowed operations to increase.

"With the population explosion of the past few years, we've been able to expand on what we've already been building," he said, as reported by The Urban Developer.

"The Brisbane food scene has improved greatly during the past few years.

"We've seen a massive increase in the number of venues opening, offerings are getting even better and there are different styles and precincts popping up.

"We are working towards that once-in-a generation event where you host an Olympic Games event - people are buying into that now and it will come upon us quick." 

The city has already undergone a series of developments including the AUD3.6 billion (£1.9 billion/$2.3 billion/€2.2 billion) Queen's Wharf development.

Brisbane's restaurant industry is expecting a AUD4.6 billion (£2.4/$3 billion/€2.8 billion) boost due to the Games.

However, Nehme Ghanem, a managing director of the Ghanem Group which owns a number of luxury restaurants, feels short term effects could actually be negative. 

"I see a consolidation period happening, people are tightening their belts and are not spending as much," Ghanem said, as reported by The Urban Developer.

"I guess with interest rate hikes and high inflation, there seems to be a 'wait and see' feel to the industry."

He still remains optimistic on the whole though and feels Brisbane 2032 will force establishments into offering better service to remain competitive.