Let's spend money to make money

While to a certain extent that is true. There are start-up costs to every venture and with hard work and luck, they will be returned with a profit (provided the market wants/needs your product).

Then there are the Olympics. A grand event that allows for sponsorship (notice that they haven't had a named sponsor since Atlanta when the "Coca-Cola Olympic Games" went over like a lead ballon?), great competition by semi-professional/professional athletes, and events no one has heard of or thinks should be in the Olympics (chess is a sport?)

All this to say: no one is showing up and no one is watching on TV. But... "Harry Collossis, Greek tourism minister, said the financial effect won’t really be seen until four or five years from now."

When they have to pay the bills.

FOXNews.com - U.S. & World - Games Don't Spark Tourism Boom