Hosting the Olympic games is worth every penny. It is very expensive and I agree that every nation on earth should pitch in and make it more easily available for the host country to host the game. The burden should not be solely placed on one country, but every country that is involved in the games, especially those that have a higher GDP.
Hosting the Olympic Games is very beneficial to the host country/city which is why it is so coveted and sought after. Besides the huge economic stimulus it creates it also puts the city/country in the spotlight on the world stage. Very similar to having a Super Bowl in a city, the Olympic Games has a very positive effect for the city and the country.