The Hong Kong government is currently consulting the public on whether to host the 2023 Asian Games and it seems that the government is intent of submitting a bid, in spite of high level of opposition (at least within my social circle). While supporters of the bid claim that most opponents of the bid are fixated on the monetary costs of the Games, there are many other reasons why a bid should not be made.
After a large outcry over costs of the initial proposal, the government tabled a proposal where the cost in facility upgrades is cut in half. A large part of the expected savings come by scaling back venue capacity. This sure makes one wonder if the people making proposals are overestimating attendance. If previous Games and major infrastructure projects are any indication, there would likely be cost overruns. So the final cost would likely be higher than that stated in the original proposal.
The officials also pledged that new venues would be build, even if the bid ultimately fails. However, similar pledges were made in a previous bid for the Asian Games and most of the promised venues have yet to be built. This surely makes one question the officials' sincerity in building the venues.
One of the biggest problems associated with major sporting events is the spike in traffic. The streets of Hong Kong are currently congested for most of the day and it is almost certain that there will be more vehicles on the roads of Hong Kong in 13 years' time. Even though new roads and rail lines will be built, I don't know if it is enough to handle the additional traffic and passengers. (If Hong Kong is awarded the Games, the days on which the Games are to be held should be declared public holidays so that workers and students do not commute. Theoretically, this would reduce traffic and encourage locals to attend the events in person. Economy activity in the city and education won't grind to a halt — expected advances in technology should enable people to work and study at home with ease in 2023.)
There is also the small matter of housing the athletes, coaches, and officials during the Games. During the East Asian Games, in which 9 countries participated, athletes and coaches lived in hotels. I am quite certain this arrangement is not feasible for the Asian Games, which is participated by over 40 countries. So there probably is a need to build an athletes' village. The question then becomes "what to do with the village after the Games are over". The only solution seem to be conversion of the village to public housing. If the village is handed over to the property developers, public outrage would be tremendous (since the developers would likely build extravagant add-ons to the village, brand it as luxury flats, regardless of location, and charge sky-high prices).
Officials have hinted that some of the events would be hosted by other cities within the Pearl River Delta. There is little detail on, should Hong Kong be awarded the Games, how many events would be held within Hong Kong and how many would be held outside the city. Should a city be considered the main host city of the Games if a majority of the events is held outside the city and its suburbs? While I floated the idea of having different cities within a country hosting different events of the Games before, the proposal seems to be the bid committee's way of saying "we can't host the Games on our own, but we want it anyways".
Supporters of the bid often claim that a successful bid would increase people's interest in sport and encourage people to exercise more. If the goal is to encourage people to exercise more, increasing the number of PE classes in school, and building easily-accessible running and bicycle lanes within the urban area would be much cheaper alternatives. Building long-promised swimming pools in highly-populated new towns would also help. While the more obscure events would receive more coverage during the Games, it is likely that interest and participation in such events would wane after the Games are over (most people seem to have already forgotten that Hong Kong hosting the Olympic equestrian event just two years ago).
One often-made arguement in support of hosting the Games is that the event would foster development of local athletes. While hosting the Games would inspire athletes to train harder for an opportunity to shine in front of the home crowd, providing better support (living, coaching) and opportunities to participate in highly-competitive events to local athletes are, to me, better ways to develop them.
Perhaps it comes down to this: the people behind the bid have yet to convince many people, including me, that hosting the Games is the only way for Hong Kongers to enjoy the benefits associated with it.