The Olympics themselves cost millions and millions more are spent for training and equipment. With there being so much poverty and hardship in the world would the money spent on the Olympics be better spent on other things?

You have given me alot to think about.....
yes because not many people have the same privileges that we do and we should share some of it.

but i think the fact that all the countries of the world, poverty stricken, or in a war can come together and befriend their enemies. For exmaple a Russian athlete and a Georgiasn athlete hugging after a race. This is very important too and it wouldn't happebn without the Olympics.