Countries are learning that hosting the Olympics will not lead to long-term economic growth as previously thought.
Hosting a Winter Olympics means a big investment in new sports facilities such as for the bobsled and luge.
There isn't any need for that kind of facility after an Olympics.
The title of the report at the link below tells the real story: Bidding for the 2022 Olympics is a disaster because everyone figured out that hosting is a total waste.
Below are photos of what is left of infrastructure built for the 1984 Winter Olympics in Sarajevo, Yugoslavia (present-day Bosnia-Herzegovina).