It seems a bit weird to me that they have all the competitions in the same place. We do live in the 21st century now. Distribute swimming to one part of the world, wrestling and weightlifting to another, track and field to a third, etc. Yeah, there's no procession and there's a problem of where to put the torch (actually, the latter is not a problem: have the sports move in progression and have the torch move along with them). or do the same idea, but in one big country: have different cities host different sports, based on the infrastructure they already have.
the Los Angeles Olympics of 1984 did not cost anything to run, net: they were so well-organized and used existing venues so well that they actually broke even.
(of course, that was before a lot of the more recent niche sports were added).