Spurs have made an excellent start to the summer by bringing in Yves Bissouma, Ivan Perisic, Fraser Forster and Richarlison, who joined from Everton for a fee of £60million.
With a deal for Djed Spence expected to be completed by the end of the week, Antonio Conte's side are looking in good shape for the new season.
Arsenal have also been busy after signing Fabio Vieira and Gabriel Jesus from Manchester City, despit failing to qualify for the Champions League.
But, according to Wright, it's Tottenham's business that has really caught his eye.
Speaking on Wrighty's House by Ringer FC, he said: "I feel Tottenham are going to cause problems.
"You can't not be jealous of that summer, especially coming from the other side of north London.
"They are frightening man. Everything we are doing at Arsenal, and I am putting on as my armour. But we have done this. We have Vieira. We have two number 10's now. And we are still trying for Tielemans. And we have Gabriel Jesus.
"So, you are trying to arm yourself because the Tottenham fans are saying 'well, we kind of have Bissouma now, Richarlison, Kane, then Bentancur is going to kick in and we have seen what Romero is about'.
"When you look at how Tottenham can flex when they are doing it under this manager, it kind of makes me feel a little bit, you know."
Spurs won't be finished even when they do acquire Spence.
The Premier League side are also close to landing Clement Lenglet on loan from Barcelona as they strenghen their defence.