The money that any country spends including that of the recent 2014 Olympic games is okay if done right. If the money is spent in a good way instead of lets say something like corrupttion or things in that matter then yes they should be able to spend the money they pick.
Yes, the money spent at the Olympics is justifiable. The Olympic games encourage patriotism and teamwork, and they allow athletes the chance to showcase their hard work. Additionally, they bring tourism and jobs to the city in which they are held, and they provide a great entertainment opportunity for viewers.
The Olympics have been commercialized and each time the Olympics are held in a different city millions, maybe even billions of dollars are spent. The teams have to pay to enter and pay to travel. The spectators have to pay to enter and then are flooded with possible purchases and high priced food. The profits are probably fairly large. I really don't feel like the money spent is justifiable when we have problems to solve, like hunger.
That amount of money could be used to better our homeless problems, our borders and our lives in general. I mean who really wants to watch a bunch of people skiing it is a hobby and a sport but to compete like this is insane. They could compete still in a different manner.
I do not believe that money that is being spent on the Olympics is justifiable. A lot of the reasons that some countries spend a lot of money on the Olympics is because some nations believe that the games will bring attention and money to the country. But there have been a lot of cases where some countries have not seen the benefits of hosting the games.