I think there's an important psychological dimension that's often missed from these calculations, particularly for countries that have a chip on their shoulder. It's a way for the entire world to be focused on something that you're doing well (hopefully) for a few weeks. Before the Beijing olympics many Chinese would ask you how you liked China, and when you replied, "yes" they would say China is "luo hou", which mea…
The problem is that the pride only lasts for a few months. After that I was (and many other people were) back to thinking it was a massive waste of money and the only place that would benefit was London. Basically what I'm trying to get across is that if you had asked me during the Olympics I'd say let's do it again, but before or after? Not a chance