We study theoretically the optical properties of quantum tubes, one-dimensional semiconductor nanostructures where electrons and holes are confined to a cylindrical shell. In these structures, which bridge between two-dimensional and one-dimensional systems, the electron-hole interaction may be modulated by a dielectric substance outside the quantum tube and possibly inside its core. We use the exact Green's function for the appropriate dielectric configuration and exact diagonalization of the electron-hole interaction within an effective-mass description to predict the evolution of the exciton binding energy and oscillator strength. Contrary to the homogeneous case, in dielectrically modulated tubes, the exciton binding is a function of the tube diameter and can be tuned to a large extent by structure design and proper choice of the dielectric media.