I think the concept of one city/region organizing such extravaganza is not anymore feasible for many countries. They should change the concept: do the opening /closing ceremony in a city, the competitions spread between regions. If they are not concentrated anymore, the facilities can be used for more years (perhaps even use existing facilities). A little bit like the soccer worlds. The advantage is also that you don't have to develop an infrastructure which no one will need it after the olys, you won't have half a city in construction and traffic jams and you won't have to build tons of hotels/dorms/etc. This model can especially work for the summer oly, while for winter one they can just make the region organizing bigger. I can imagine like this Austria would be more able to organize when all Alps and not just a small part would be used.
Second: they should cap how much money are to be invested in the whole ceremonies and everything else which is not sport. The simple sport should be once again in the spotlight, not "the best organized oly from all times".
Second: they should cap how much money are to be invested in the whole ceremonies and everything else which is not sport. The simple sport should be once again in the spotlight, not "the best organized oly from all times".