Vizag is already a popular tourist destination, drawing visitors from throughout the state and neighboring states. The Global Investment Summit will further boost tourism initiatives in Visakhapatnam, as three major projects are set to begin in Vizag. Three US-based NRIs have partnered with foreign companies to build a sky tower, a tunnel aquarium, and the "Eye on Vizag" mega-giant wheel.
                   

They intend to invest Rs 250 crore in the tunnel aquarium in collaboration with Turkey-based Polin Aquariums, Rs 100 crore in the Sky Tower in collaboration with Switzerland-based Intamin Worldwide, and Rs 243 crore in a giant wheel called "Eye on Vizag" by Pax Russia. They are expected to come up on the Mangamaripeta beachfront, about 20 kilometers from the city.       
                                                                                                                                              During the Global Investment Summit in Visakhapatnam on March 3 and 4, a Memorandum of Understanding is expected to be signed with the AP government. The Sky Tower is expected to be built under the PPP model and will cost approximately Rs 100 crore. It is expected to be the tallest in Asia and can be seen from anywhere in the city. The Aquarium will be India's third-largest public aquarium facility, housed in a turtle-shaped, themed structure that symbolizes turtle conservation. It will cover an area of 27,000 square feet and will include an underwater restaurant.                                                                                     
                                                                                                                                                 The "Eye on Vizag" mega-giant wheel, similar to the London Eye, would be India's first mega-wheel project and one of the top ten in the world. According to available information, "the height of the wheel would be 125 meters and will be built in such a way that it can withstand hurricanes and earthquakes of up to 8.3 magnitudes." The project is expected to be built on 15 acres of land in Kapuluppada's S No. 314/P on the beach road.