There are many benefits to making events reoccurring.
1) You can move events to different dates. With reoccurring events, most of the events will not fall on the date you want it to be on. The great thing is that you can just click and drag the event to a new date without changing the other yearly occurrences.
2) The reoccurring events retain all of the same attributes. The repeated events keep all of the descriptions, links and attachments that the original event had.
3) It only takes 7 clicks to make a single event a yearly reoccurring event. 7 clicks sounds way easier than creating a new event and typing in all of the same info.