Major world events such as the Olympics and the FIFA World Cup operate under a bargain. Countries spend billions of dollars to build stadiums and luxury hotels, welcoming the world in order to buy prestige.
It is why, on paper, hosting makes little economic sense. Most countries lose money on the ordeal. But for two or three weeks, they become the center of global attention and can use that moment to reposition or reimagine how they are seen.
In 2006, Germany sought to present itself as the power center of Europe. In 2010, South Africa told a post-apartheid success story. In 2018, Russia bid to resuscitate its image as a wealthy great power. In 2022, Qatar crowned its decades-long push to be seen as a reliable partner in the Gulf.
