Saudi Arabia is looking for private investors to fund a $135 million ferris wheel in Medina, as the kingdom pushes to expand attractions for pilgrims and domestic travellers beyond its holy sites.

The project, listed as the Hijaz Eye on the government's Invest Saudi platform, would be built on a 33,700 square metre plot. The platform, which lists around 2,200 state investment opportunities, projects the wheel could repay investors within seven years.

"A lot can be done in terms of Umrah and Hajj plus," said Amin Ismail, managing director of investment advisory Certares, reflecting broader industry thinking on extending pilgrims' stays beyond religious obligations.

The tender prospectus frames the project as serving both pilgrims and the domestic market, describing it as a destination offering a bird's-eye view of the city that would "enrich the experience of pilgrims" and meet a growing need for cultural exchange among visitors. The wheel's height has not been disclosed.

Religious tourism is central to Saudi Arabia's Vision 2030 strategy. In 2025, 14 million overseas visitors came to the kingdom for religious purposes — twice the number who came for leisure and seven times those arriving for business. A further 14 million domestic tourists travelled for religious purposes, with 6.5 million visiting Medina specifically.

Visits grew 8% year on year in the first quarter of 2026, "mainly driven by strong domestic demand" and despite regional conflict, according to Mahmoud Abdulhadi, Saudi deputy tourism minister for destination enablement, speaking at the Future Hospitality Summit in Riyadh last month.

The Hijaz Eye would not be the first large Ferris wheel in the region. Dubai's Ain Dubai has faced repeated closures since it briefly opened in October 2021 and remains shut.

Global Muslim consumer spending on modest fashion reached approximately $347 billion in 2024, reflecting a 6.2% year-on-year increase, and is projected to grow to $444 billion by 2029, at a 5.1% CAGR, according to the State of the Global Islamic Economy 2025/26 Report.  

The continued momentum underscores the steady expansion of modest fashion as a significant segment within the global apparel market, supported by strong demand across key markets including Iran, Türkiye, and Saudi Arabia. 

Beyond its size, the sector is undergoing a structural shift. Modest fashion is transitioning from a niche, identity-driven category into a more integrated segment of the global fashion industry. Growth is increasingly shaped not only by consumer demand, but by how effectively brands and platforms embed modest fashion within mainstream retail environments, digital commerce ecosystems, and broader lifestyle propositions.

This shift is reflected in the increasing presence of modest fashion across established retail spaces, major shopping districts, and international fashion platforms. At the same time, the rise of social and livestream commerce - particularly in Southeast Asia - is reshaping how consumers discover and purchase products, reinforcing the importance of seamless, omnichannel engagement. 

In parallel, early-stage collaborations across sectors such as beauty, travel, and hospitality signal a gradual expansion toward lifestyle positioning, while emerging segments such as men’s modest fashion continue to gain visibility through showcases and brand experimentation.

At the same time, modest fashion consumers are becoming more discerning, with rising expectations around quality, design, and overall brand experience. This evolution is placing greater emphasis on brand positioning, product differentiation, and service delivery, while also encouraging brands to align with broader themes such as sustainability, authenticity, and cultural relevance. 

Investment and capital deployment within the sector are also becoming more strategic, with brands increasingly directing resources toward marketing, brand building, and digital capabilities to support scalable growth.

However, the ability to translate visibility into sustained commercial outcomes remains uneven, particularly where growth is driven by event-based exposure rather than long-term market integration.

Taken together, these developments point to a sector that is expanding in scale while simultaneously evolving in structure. As modest fashion continues to integrate into mainstream fashion systems, future growth will depend on the ability of stakeholders to build commercially sustainable models that extend beyond awareness into consistent demand, brand equity, and global market penetration. 

Collaborations emerged as a key mechanism for accessing new customer segments and embedding modest fashion into adjacent lifestyle categories. 

Experiential retail and hybrid store concepts were increasingly used to deepen engagement and complement digital channels. New product segments and functional innovations broadened the modest fashion market beyond traditional womenswear. Brands increasingly leveraged cultural ambassadors and influencers to strengthen relevance and visibility. International showcases and fashion weeks expanded modest fashion’s presence within mainstream global calendars. 

Several signals of opportunities exist, such as expansion of livestream and social commerce, normalization of modest fashion within mainstream retail and fashion platforms, rising visibility of men’s modest fashion and the broadening of modest fashion into a lifestyle-oriented brand proposition. 
 

The Muslim-friendly travel sector continues to expand, with Muslim outbound travel spending reaching $249 billion in 2024, up 14.9% from $217 billion in 2023, and projected to reach $424 billion by 2029, reflecting an 11.2% CAGR, according to the State of the Global Islamic Economy 2025/26 report. Saudi Arabia, Malaysia, and the UAE remain the largest Muslim travel markets. 

GCC countries are deepening commitments across Africa and the Arab world, with the UAE and Qatar deploying multi-billion-dollar tourism and real estate pipelines in Egypt and Zanzibar. Gulf capital is re-engaging with Syria through large-scale aviation, real estate, and infrastructure investments, using tourism-enabling assets as early entry points.

Saudi Arabia’s Umrah ecosystem is becoming the sector’s most advanced digital infrastructure, with the Nusuk platform now mandatory for visa applications, accommodation, and transport booking, complemented by an integrated digital wallet, an AI-powered air-rail booking system, and a forthcoming credit-profile-based visa issuance model. 

Saudi Arabia opened up investment access in Makkah and Madinah through regulatory reforms and residency incentives, accelerating institutional and high-net-worth capital into Umrah-linked real estate and large-scale accommodation ecosystems.

Artificial intelligence is also being deployed at operational scale across Hajj, covering crowd management, multilingual guidance, and real-time mobility coordination. 

OIC aviation markets are expanding capacity through new airline launches, long-haul low-cost models, and digital-first distribution strategies, backed by significant sovereign and private investment. Saudi Arabia alone plans three new carriers as part of a $100 billion aviation overhaul, while sovereign investment in regional carriers such as AirAsia signals a broader push to expand seat capacity and connectivity.

Mega-events are becoming a programmatic demand driver, with Qatar, Morocco, Uzbekistan, Senegal, and Saudi Arabia hosting or preparing for major international sporting and business events through 2026.

Sustainability is receiving sharper regulatory attention, with airlines facing significant carbon compliance costs and destinations formalizing community-based tourism models to broaden the economic benefits of visitor growth. Cruise operators and travel companies launched and marketed halal-certified, Muslim-friendly, and Umrah-focused cruise offerings across multiple routes, alongside new residential cruise ship plans.

Fintech and innovation initiatives are increasingly focused on pilgrimage finance, transport efficiency, and infrastructure operations across Muslim markets. Middle Eastern destinations are leveraging global entertainment brands and luxury real estate partnerships to anchor mixed-use tourism districts and enhance international appeal. Meanwhile, governments in emerging markets are structuring tourism assets to crowd in private capital.

Looking ahead, the strongest opportunities lie in accessing Saudi destination pipelines, scaling sub-Saharan Africa hospitality exposure through multi-site structures, and embedding Muslim travel tools within existing super-app and airline distribution ecosystems rather than building standalone platform. 

A meeting of the Azerbaijan–Türkiye Joint Tourism Working Group was held in Antalya earlier this month to focus on bilateral tourism cooperation, managing coastal areas for tourism purposes, winter, health, and gastronomy tourism.

Read: How Türkiye is transforming its tourism industry