The Brazilian team may be favored to win the World Cup, but analysts don't believe playing host to the tournament will boost the country's economy or its shares.
"The World Cup is not going to make it for Brazil, as has not been the case for South Africa or others before," Alicia Garcia-Herrero, chief economist at BBVA, told CNBC. "We've learned from experience that the boost from World Cups and Olympic games is relatively limited."
She expects the boost to Brazil's gross domestic product (GDP) this year will add up to less than half a percentage point, leading to a total economic growth forecast of 1.5 percent.
To be sure, she expects playing host will boost the tourism sector. "But tourism is a small share of GDP in Brazil, unfortunately."
She also expects a boost in consumption if Brazil wins the World Cup.
"But if it doesn't, we might even see a worsening of the current situation," she said, noting that declining consumption is behind the country's very poor economic data over the past year or so.