What's the use of arranging beauty contests like 'Miss World' etc ??

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Hi Friends, I just want to ask that what is the use of arranging contests like 'Miss World','Miss Universe', 'Miss Femina'etc. Are they of any use to the common people?? These types of contests include so many formalities like fares,specific meals of rich vitamins etc. Moreover,In lodging and awards an exhorbitant amount of money is spent.