The brain operates on a "use it or lose it" phenomenon, so if you don't keep reviewing the flags of the world, you likely will not remember it.
However, having a strong memory is such a useful skill to have. It allows you to make connection across seemingly unrelated areas, as you remember one fact from here and another fact from there.
It can also help you overcome learning disabilities. My hearing-impaired son has been a poor speller, I assume b/c he doesn't hear the ends of words. We have done spelling flashcards, 10 a week, for 3 years, and voila! He is now an above average speller. He has an almost photographic memory.