Countries around the world compete to host major sporting events such as the Olympic Games or the World Cup. In my opinion, the disadvantages are greater than the advantages, particularly for countries with limited budgets.
The attractions of hosting are clear. Such events bring a wave of tourists and worldwide media attention, which can improve a country's image and boost sectors like hotels and restaurants. Hosts often use the occasion to build or modernise infrastructure, including airports, roads and public transport, and these may serve citizens for decades. Success in organising the event can also create a strong feeling of national pride and unity.
On the other hand, the costs can be enormous. Budgets are usually exceeded; the Montreal Olympics of 1976 left the city in debt for thirty years, and Rio de Janeiro's government faced financial crisis after the 2016 Games. Money that could have been used for hospitals or schools is instead spent on temporary facilities. Furthermore, many of the new stadiums are rarely used afterwards. Several venues built for the 2004 Athens Olympics lie abandoned and expensive to maintain. There are also effects on ordinary people, who experience traffic restrictions, rising prices and sometimes forced relocation from areas needed for construction.
There are exceptions. Cities which already have most of the necessary facilities, such as Los Angeles, can stage the Games with much lower costs and use the venues afterwards. A shared hosting model, in which several cities or countries divide events, could also reduce the burden.
In conclusion, although hosting a major event can bring prestige, tourism and better infrastructure, the financial risk, wasted facilities and disruption to residents mean that the disadvantages often outweigh the benefits.