Seventh Disneyland and First New Opening Since Shanghai in 2016
Partnering with Miral Group to Develop Yas Island
The Financial Times (FT) reported on May 7 (local time) that The Walt Disney Company will establish the first-ever theme park in the Middle East in Abu Dhabi, United Arab Emirates (UAE).
This Abu Dhabi theme park will be Disney's seventh theme park worldwide and is expected to be the first new opening since Shanghai Disneyland in 2016. Currently, Disney theme parks are located in California and Florida in the United States, Tokyo in Japan, Paris in France, and Shanghai and Hong Kong in China.
The project will be carried out through a partnership with Miral Group, Abu Dhabi's state-owned development company. Disney will directly design and operate the theme park. Miral Group will provide all the funding required for the establishment, while Disney will receive royalties.
The Abu Dhabi Disneyland will be built on Yas Island, but the official name and opening date of the theme park have not yet been determined. This area is already a renowned tourist destination, home to attractions such as SeaWorld, Warner Bros. Park, the Louvre, and the Guggenheim Museum. Miral Group emphasized that although Abu Dhabi's population is only 2.5 million, Yas Island welcomed 34 million visitors in 2023, a 38% increase compared to the previous year.
Disney CEO Bob Iger stressed, "The best way for us to reach hundreds of millions of middle-class consumers is to establish a local presence so they can access Disney more easily."
FT evaluated that, in addition to its geopolitical location that can attract tourists from the Middle East, Africa, India, Asia, and Europe, the UAE's easier visa acquisition process compared to the United States or Europe is likely to further boost visitor demand.
Along with the announcement of the opening of Abu Dhabi Disneyland, Disney raised its earnings outlook for fiscal year 2025. Disney's net profit for the second quarter was $3.28 billion, a significant improvement from a $20 million loss in the same period last year. Revenue increased by 7% to $23.6 billion, surpassing Wall Street expectations. Adjusted earnings per share were $1.45, exceeding the forecast of $1.20. Following this news, Disney's stock price closed up 10.76% in regular trading that day.
Meanwhile, Disney maintained a positive outlook for the future but noted that uncertainties remain in the market environment, including variables such as U.S. President Donald Trump's tariff policies.
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