Parades are economical. They show off your military strength to potential enemies. The Soviets used to do a big one every year on May Day. Aviation Week always ran a fair sized article about what the Soviets had displayed this year. Seeing troops and tanks marching down the street carries more impact than dry intel reports.
And, parades show the tax payers that they are getting something for their tax money. What's not to like.
And parades are cheap, especially compared to even the smallest military action. After all, the troops are all ready in the service, getting pay, uniforms, rations, and board. The extra money for a bit of parade practice and transport to and from the parade site is chickenfeed as military expenses go.
And everyone likes to watch a parade.
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