It makes sense that it would be hosted in different countries. All the participants are from around the world and to make it just and not give advantage to any single country over another, they are designed to take place in various continents and geographies. Plus I feel like the Olympics tries not to give too much emphasis on one country being the "important" one and the best way to do that is to vary the location. Don't ya think?
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Answered before by Dlmick
If all of the countries all over the world compete in the Olympics, why should they be held in only one country? And how would they agree on which country to hold them in?
The Olympics change location for versatility. The International Olympic Committee believes the games are for everyone and shouldn't be in just country year after year.
The olympics are held in different places to give each country a chance to shine their cultural colors, the are chosen by each country voting what country should present the olympics first.