We bestow all kinds of honors on people in this world. Does it really matter? Do you even care? We erect statues to honor past heroes who might be suffering in hell now. In the case the honor bestowed results in boosting the ego of the honoree, then it acts more like a curse than a blessing. The Church also honors saints by canonizing them. This serves to inspire others to love God more by following their examples. As far as the saints are concerned, who only wish to follow God's will, being officially declared saints is not going to thrill them in anyway.
Conclusions. The world bestows honors mostly for vainglory. In the presence of God, no one deserves to be honored. When we honor someone, we must do it for the sake of glorifying God. Not to forget, if God has called you to serve him, you have already received the highest possible honor, an honor that humbles you to boot.