For all sorts of reasons (political, financial) the Olympics should be held in the same location, and that location is Switzerland. Here is a great and heartbreaking editorial from former rower Charles Banks-Altekruse as to why:
That said, it will never happen because the IOC is effectively a PR firm at this point, they'll make much more money from a new country every 4 years than they will from Greece repeatedly.
I read this editorial four years ago, and I think of it often. It speaks of broken dreams (i.e., "I coulda been a contender"), what could have been, and the human experience.
[^1]: It was not clear to me why the author offered the Munich Massacre among the political costs of rotating the venue for the Olympics. It seems rather absurd to suggest that hosting the games in Switzerland would have prevented anything. Simply being in Switzerland did not prevent the Zug massacre.