Former Roma star Falcao believes Juventus striker Carlos Tevez is the only "champion" of international reputation currently playing in Serie A.
The Argentine striker currently tops the goalscoring charts in Italy's top flight after an impressive first season with the Bianconeri following his summer move from Manchester City.
Falcao feels significant investment in Italy's top flight is needed in order to attract more players of Tevez's standing and bolster the standard of the competition.
"The only champion of international character in Italy is Tevez, and that makes a difference. We need new sources of revenue to compete with La Liga, the Bundesliga and Premier League," he told Gazzetta dello Sport.
"But I still prefer [Serie A], as many Brazilians do. For me, it has preserved its charm."
The former Brazil interntional also hit out at question marks over the ability and commitment of Mario Balotelli, insisting the AC Milan striker can be one of the leading lights for Italy at this summer's World Cup.
"For me, Mario is a champion. Full stop. I don't judge the man, I don't know him. But his talent is unquestionable," he said.
"Italy, I think, has many other players who can make a difference, like [Gianluigi] Buffon, [Daniele] De Rossi and [Andrea] Pirlo. Italy have everything for a great World Cup: the usual great defence, and in addition, the desire to play football."
Finally, Falcao tipped Bayern Munich as the favourites to claim this season's Champions League, but admitted he would be supporting Real Madrid and former Giallorossi team-mate Carlo Ancelotti.
"There are some crazy ties in the quarter-finals, it's impossible to make a prediction. If I have to say, then Bayern. But I'll be rooting for Ancelotti's Real Madrid. I have so many memories with my friend Carletto," he added.