Could a Disney vacation in Abu Dhabi be a bargain compared with the American equivalent? Travelers may think of the Middle Eastern destination as a place of unbridled luxury, replete with Michelin-starred restaurants and hotels whose rates can run as high as $1 million per week.

Walt Disney announced plans on Wednesday to open a Disney theme park in United Arab Emirates' capital Abu Dhabi in collaboration with regional developer Miral Group, representing its first major new theme park in nearly a decade and its first in the Middle East.