The next Star Wars movie will probably feature the Dingle Peninsula, as seen from the village of Ballyferriter in County Kerry, south-western Ireland. Paulo Nunes dos Santos / AFP
The next Star Wars movie will probably feature the Dingle Peninsula, as seen from the village of Ballyferriter in County Kerry, south-western Ireland. Paulo Nunes dos Santos / AFP

A galaxy not so far, far away: Ireland expected to feature heavily in next Star Wars film



This is the tourist boom you’re looking for – since the picturesque coastline of County Kerry featured in The Force Awakens and hosts Episode VIII of the Star Wars series, south-west Ireland has become a magnet for movie fans.

The plot for the next Star Wars movie is guarded more closely than the Death Star, but one thing is certain – it will feature plenty of Irish mist and rain.

The regular downpours, helped by tankers of water brought on set just in case, failed to dim the enthusiasm of hardy fans and businesses cashing in as director Rian Johnson began shooting this month on a remote stretch of coastline in County Kerry in south-west Ireland.

“There’s a buzz around and the exposure worldwide is unbelievable,” says Donal O’Cathain, a bar owner in Ballyferriter, the small village nearest the set that was built on Ceann Sibeal, a rocky promontory.

Christy MacGearailt, who runs a restaurant, says: “I don’t know if the Force is with us but it has certainly forced us to work a lot harder because of the increase in the number of visitors.”

The most recent movie in the Lucas film Disney Star Wars series, which was released last December, has generated more than US$2 billion (Dh7.34bn) at the box office, making it the third-highest grossing film of all time.

Star Wars Episode VII: The Force Awakens featured Ireland in a dramatic ending filmed in Skellig Michael, a sixth-century monastic settlement off the coast of Kerry.

"Ireland has become an important part of Star Wars history," says Candice Campos from Lucasfilm Disney, while announcing this year that Ireland would feature in the eighth instalment.

James Hickey, chief executive of the Irish Film Board, says he hopes for “increased levels of job creation, incoming tourists and foreign direct investment to Ireland”. Episode VIII is scheduled for release in December next year.

Jack Sullivan, an Irish-American, is among the fans eagerly awaiting the premiere. He was in a group trying to catch a glimpse of a structure jutting out from the hilltop.

“This is a real bonus on our trip to Ireland,” Mr Sullivan says. “It’s just a pity we can’t get to see it up close. I can’t wait until the movie comes out now.”

But some locals complained about the disruption in this rural place where Irish Gaelic is the primary language.

Louis Mulcahy, who has been hosting some of the visitors at his pottery shop to view the set through a telescope, complained about the traffic around the Dingle Peninsula, already one of Ireland’s busiest tourist routes.

“The increase in numbers certainly won’t help,” he says.

Lorries loaded with equipment have navigated the narrow roads in recent weeks to ferry equipment to a hastily built camp at the bottom of a hill near Ballyferriter that is usually home to sheep.

Owners of Ballyferriter’s four-wheel drive off-road vehicles are reportedly earning €300 (Dh1,225) a day to ferry the cast and crew along a temporary road up the hillside to the shoot location, which is bounded by cliffs on three sides.

About 450 people work on the set amid tight security to prevent any leaks about the new film.

Landowners have signed secrecy agreements and none will speak openly about the layout of the site for fear that they would not receive compensation for the use of their fields. Nor were they prepared to talk about their financial windfalls.

Workers have to hand over their mobiles to prevent them from taking pictures and the Irish Aviation Authority has imposed a no-fly zone.

But the village’s three pubs have been humming with conversations about the day’s happenings on site and how the stars are behaving themselves. The friendliness and down-to-earth manner of Mark Hamill, who plays Luke Skywalker in the saga, was singled out for praise.

Some business owners are openly sceptical of claims that the film is enhancing prosperity.

“We have seen plenty of cars passing our door to go to the site but you can count on one finger the number of local people actually working there,” says Eamon Houlihan, owner of the Black Cat shop in the village.

“Everything has been shipped in – it is almost completely self-contained.”

* Agence France-Presse

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Engine: 6.2-litre V8

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Released: 2017

Peak chart position: No.1 in more than 47 countries, including the United States, the United Kingdom, Australia and Lebanon

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Manon Fiorot (FRA) beat Corinne Laframboise (CAN)

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Featherweight

Bogdan Kirilenko (UZB) beat Ahmed Al Darmaki

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Lightweight

Izzedine Al Derabani (JOR) beat Rey Nacionales (PHI)

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Yousef Al Housani (UAE) beat Mohamed Fargan (IND)

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Jung Han-gook (KOR) beat Max Lima (BRA)

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

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The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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A State of Passion

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Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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Send “thenational” to the following numbers or call the hotline on: 0502955999
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Mia Man’s tips for fermentation

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Destroyer

Director: Karyn Kusama

Cast: Nicole Kidman, Toby Kebbell, Sebastian Stan

Rating: 3/5 

UAE release: January 31 

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