According to the documentation motivating for SA’s bid to host the Commonwealth games in 2022,

the country stands to gain R 20 billion, mainly from foreign visitors. I have previously written that it is a myth to believe that a country like SA will secure anything but a huge debt and a lot of wasted facilities after hosting such games. That is the experience of almost every host of Olympic and other games. They end up bearing huge losses and having accommodation and other facilities that are not located in places that will attract long term buyers
We need to have psychologists study this neurosis from which this country suffers or its sports and political leaders suffer, where they feel impelled to ‘punch above their weight’ by hosting this or that by being on various international councils etc. Why not leave space for others? Do we have some huge inferiority complex, something to prove to the rest of the world? Our economy is in trouble. We cannot risk further losses. Yet we are now the sole bidder and these games are almost certainly going to be hosted by the one bidder foolish enough to take the risk