They'd save on gold and silver.
But seriously, the amount I care about the Olympics: 1.01-1.011%
Olympic games are all about politics, nothing is about sport (and I don't care watching people perform sports, but I realize many do).
If games have to happen they should be happening in Greece, there should be permanent stadiums there, they could be maintained by everybody who cares about the games.
But this way how could the governments steal billions from the populations and redistribute that money to their close friends? That's the real problem, apparently governments still need some pretext for stealing for some reason.