Well maybe but I think the IOC were a bit unlucky also. When Brazil was chosen it was one of the so called BRIC ecomomies.
The economy was growing strongly on the back of the Chinese commodites boom and an emerging middle class was emerging that the IOC saw as the target for ticket sales.
Since then the economy has crashed, the President is undergoing impeachment proceedings, the Petrobras "Lava Jato" scandal has dominated the news, the Zika virus has made global headlines, the Russian doping scandal has broken and there have been numerous scare stories about security !
I think the IOC will be very glad to move to the far less volatile market of Tokyo in 2020.