The Olympic Games have long been held in rotating cities around the world. I believe that there should be two permanent locations, one for the summer and one for the winter. There are many advantages to this decision: cities will not be physically destroyed by the construction of the buildings, socially collapsed because of dislocation of its citizens, nor economically destroyed by the colossal cost of 19 billion dollars (1) that go into the financial aspect of building the housing and the actual stadiums. Twice, Greece has offered to dedicate a permanent residence of 1,250 acres to the Olympics (2), the Summer Olympics could once again return to its home country after over 800 years. The Winter Olympics could be held in a more snowy country such as Norway or Sweden (these are just examples, I am not suggesting that one of these be the actual residence). The Olympics could still be hosted by one country while actually being held in another. The chosen country for each Olympics would be the one to perform the Olympic opening ceremony and pay at least for some of the facilities. This would allow third-world countries that could never possibly hold the Olympics in their own country to host it. These two facilities could provide many jobs both while being used and while not in use. Since they will be used again, they'll need to be kept in shape all year round. They could be used as year-round sporting arenas, where players can come to practice. So to me, it is clear that we need to have two permanent residences for the Summer and Winter Olympics.
This is a really good question, and I can definitely see either side of the debate. However, one of the things about the Olympic Games that really stands out to me is how it is about the whole world. The Games have been played in several different countries, and I think that's what makes it more interesting. It's about different cultures, races, etc. coming together for athletic purposes, and I think having the Games in different countries is wonderful for this. It isn't always about who hosts it, it is about where it is being hosted. While watching the Olympics, you can see the rest of the country and many of its cultures, which I think is very interesting. Two permanent homes might save more money and space, but I think that educating people on cultures, etc. is a great way to bring us together. It is also something that a lot of people love about the Olympics. It's what a lot of us fans ask: "Where will the Games be held next?"