Going to the World Cup? Get ready for the price shock

If you're heading to Brazil for the World Cup next week, make sure to stuff your wallet.

Unlike other Latin American countries, where the dollar (or euro) stretches quite far, prices in Brazil are much more expensive. Add that to the opportunistic price increases happening in the lead-up to the World Cup, and it's likely that soccer tourists will need to be prepared to break the bank.

Hotel rates have already doubled in several host cities, with Rio's rates being the costliest at an average of $445 per night. Add in the price of food, tickets to games, and other assorted expenses, and a person should expect to spend nearly $700 each day.

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What adds up? For starters, a cocktail will run you $10, a cheeseburger will set you back about $17, and a pepperoni pizza costs $35. Limiting yourself to a McDonald's meal each day isn't going to save you either — a Big Mac sells for about $7.

"Anything you buy in Brazil will be more expensive than in the United States or Europe, but the quality is going to be worse," a business adviser said. At this rate, it's cheaper to do as the Brazilians are doing, and invest in a new TV to watch the games at home.