Yes, my children are very interested in the 2012 games. They love watching the sports on TV, each rooting for his or her own country. We drew countries out of a hat (in full disclosure - out of my hand, because how many hats are really laying around?), and each child received a new home country. We made a huge chart on the wall and each time their country gets a medal, they get a coin taped onto the chart.
The plan was that a gold medal would get a quarter, the silver a nickel, and the bronze a penny. Until I got smart (luckily just before the games started) and realized the good ol' Olympic games would bankrupt me with five kids cheering for the top five medaling countries! So - I downgraded the gold to a dime. Pats on the back for mommy, all around. Close call.
Each child is enjoying watching his or her country receive medals, and they are noticing just how rich they might be when it's all over (my middle son especially, who drew the US of A). For my part, I'm enjoying the kids' interest in the games, no matter the reason.