It's a lot of money. Now, is it being spent in the country or outside of the country? In the province or outside of the province?
It's not like the money is being put into a barrel and burned. That money is going into people's pockets. The individual cops pulling extra duty, hotel and restaurant staff, travel agents, airline staff, auto rental companies, limo drivers, consultants, couriers, etc.
Those people are eventually going to be spending the money they earned from their roles in the summit, and odds are good they'll spend most of it locally buying from other local businesses that employ Ontario residents.
So, yes, it's a lot of money but like anything big coming to town, there are huge economic spin-off benefits that work to counterbalance the costs of staging the thing. It's just hard to see that if you're not a direct beneficiary of the thing.