The former Bayern and Germany skipper recently declared a triumph in Brazil as Die Mannschaft's main objective, but the 1980 European Championship winner believes home advantage will be a key factor.
"I don't have the opinion that some Bayern players have that Germany will be world champions in 2014," Rumenigge told Sport Plus.
With an impeccable record in major competitions, Germany are likely to be frontrunners for the tournament again in two years time, while current holders and Euro 2012 champions Spain will be favourites for many.
But Rummenigge is tipping a South American nation to triumph at the expense of their European rivals.
"I fear it won't be different this time," he remarked on the fact that a European nation has never lifted the World Cup in South America.
"A country from South America like Brazil or Argentina will become world champions. They will try to compensate for the loss at the last two World Cups."