Editing 1972 Summer Olympics (section)

==Cost==
''The Oxford Olympics Study'' established the outturn cost of the Munich 1972 Summer Olympics at US$1.0 billion in 2015-dollars.<ref>{{Cite book|ssrn=2804554|title=The Oxford Olympics Study 2016: Cost and Cost Overrun at the Games|last1=Flyvbjerg|first1=Bent|last2=Stewart|first2=Allison|last3=Budzier|first3=Alexander|publisher=Saïd Business School Working Papers (Oxford: University of Oxford)|year=2016|location=Oxford|pages=9–13|doi=10.2139/ssrn.2804554 |arxiv=1607.04484 |s2cid=156794182 }}</ref> This includes sports-related costs only, that is, (i) ''operational costs'' incurred by the organizing committee for the purpose of staging the Games, e.g., expenditures for technology, transportation, workforce, administration, security, catering, ceremonies, and medical services, and (ii) ''direct capital costs'' incurred by the host city and country or private investors to build, e.g., the competition venues, the Olympic village, international broadcast center, and media and press center, which are required to host the Games. Indirect capital costs are ''not'' included, such as for road, rail, or airport infrastructure, or for hotel upgrades or other business investment incurred in preparation for the Games but not directly related to staging the Games. The cost for Munich 1972 compares with costs of US$4.6 billion for Rio 2016, US$15 billion for London 2012 (the most costly Summer Olympics to date) and US$51 billion for Sochi 2014 — the most expensive Olympic Games in history.<ref name="The Guardian">{{cite news|url=https://www.theguardian.com/sport/blog/2013/oct/09/sochi-2014-olympics-money-corruption |title=Sochi 2014: the costliest Olympics yet but where has all the money gone? |newspaper=The Guardian |access-date=12 February 2014}}</ref> Average cost for Summer Games since 1960 is US$5.2 billion.