Hosting the Olympics or Asian Games likely holds great significance for developing nations

If countries like Myanmar or Cambodia were to host,
it would signal that they have become somewhat prosperous,
and that they have achieved stability in terms of public safety and various other aspects (though Myanmar is currently in a civil war).
If they have the stability and capacity to host,
the effect on their national image would surely be significant.
However, for countries like Korea or Japan,
since everyone already knows they are stable, developed nations,
the effect is likely zero, and it just ends up being a massive deficit.