I think the money can be spent on better things. Maybe it was a blessing..who knows..not even sure why Qatar would want to host the Olympics!
Things to spend the money on:

1. The poor in Qatar
2. Building of more affordable housing
3. upscaling the infastructure
4. more schools
5. more green areas / parks / trees
6. solar energy stations
7. more hospitals
8. comprehensive public transport system (monrail, taxis, tube etc)
9. more free drinking water in public places
10. Subsidising of utilities and provision of healthy food for all.