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A permanent venue for the Olympic Games?
A permanent venue would be beneficial for the sport and the athletes.
The Olympic Games focus international scrutiny on host countries and usually go hand in hand with lots of critical inquiries and bad press that distract from the actual sporting event. A permanent venue would likely prevent that.
A permanent location could ensure optimum circumstances for the athletes, for example in terms of climate and facilities. This would be in the spirit of athletes performing at their best.
Assuming that a permanent venue creates a permanent host nation, said nation would hold a de-facto "home field advantage" to the detriment of athletes of other nations.