Again this is without transportation and security costs. Also read several articles in which the Olympics organization wants host cities to cut cost anyway they can to avoid damaging their brand or avoid headlines like this. So that means more host cities would have to use existing facilities and venues which means event will be spread out all over the place. Which also means multiple venues will have to be secured, not just an Olympic Park or one set of housing quarters-the security bill alone in this day and age will take costs through the roof. As will transporting athletes to and from events.
The locals will have their lives turned upside down for the better part of a month. I lived and worked in cities with big events and for a three day show where traffic detours throw your schedule & business is off for at least a week.