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Kerry International Film Festival takes flight with Kerry Airport

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Kerry International Film Festival (KIFF) have a new headline sponsor partnership with Kerry Airport.

Running for its 22nd year, the festival will take place October 14 – 17 this year and this new partnership has provided a significant boost for the festival.

A common goal of both Kerry Airport and KIFF is the promotion of Kerry on a global scale, and this has played a significant role in the development of this collaboration.

"The Kerry International Film Festival is a highlight of any calendar," CEO of Kerry Airport, John Mulhern, said.

"The benevolent and lasting relationship between the arts and County Kerry is one which is acclaimed all over the globe, in particular, the film industry. Remember when Jimmy Stewarts’ Charles Lindbergh finally spots land, Skellig Michael and the Iveragh Peninsula, a historic event in aviation and experienced by us all through the wonders of film. Thus, how could Kerry Airport resist the opportunity to partner with KIFF and with them celebrate both renowned and emerging talent in their craft. We look forward to October with much anticipation.”

To celebrate Kerry Airport's invaluable support, KIFF have introduced The Kerry Airport Take Flight Award. This award will recognise up and coming new talent in the film industry and is a welcome addition to the festival's coveted awards, which also includes The Maureen O’Hara Award, The Best of Kerry award, The Best Irish Narrative Feature award, amongst others.

“The team at KIFF are very excited about the collaboration with Kerry Airport," Board Chairperson, Grace O’Donnell, speaking about the new partnership, said.

"We see this as a natural progressive partnership. For most of our visitors to the festival, stepping off the plane at Kerry Airport is their first taste of Kerry. Kerry Airport is the gateway to Kerry and we feel KIFF is the gateway to film in the county. We look forward to working with CEO of Kerry Airport John Mulhern along with his team at the airport to make KIFF one of the most important film festivals in the world and to continuously support Kerry as a destination."

Script writer and Kerry native, Ailbhe Keogan is also a board member of KIFF. Her latest script 'Joyride', featuring Oscar winning actress Olivia Coleman was recently filmed in Kerry this summer with some scenes being filmed in Kerry Airport.

“Personally, as a film-maker, I've been grateful to Kerry Airport for many years now," Ailbhe said. "I've travelled abroad to make important connections and brought these collaborators home to Kerry. Partnering with Kerry Airport enables KIFF to do likewise; to make meaningful connections with an international film community so that we can offer the richest festival we can.”

STRENGTH TO STRENGTH

KIFF is going from strength to strength despite the challenges that came with COVID-19. Last year the festival went exclusively online due to the restrictions, and as a result KIFF gained over 17,000+ live streams throughout the four days of the festival. Additionally, KIFF is included in the top 100 film festivals in the world where it has gained a 5-star rating and they are Ireland’s fourth biggest festival. This year, KIFF 2021 were delighted to receive the highest number of submissions in the festival’s history.

Working hard alongside Cinema Killarney and several invaluable local businesses and sponsors, KIFF is hugely appreciative of the support and goodwill they receive from the people of Kerry and strive to deliver a state-of-the-art festival that supports and promotes both industry talent and local engagement.

KIFF’s new partnership with Kerry Airport has made a massive difference to the festival and they are looking forward to exciting times ahead. CEO of the Irish Film & Television Academy (IFTA) and KIFF Board member said: “We have a wealth of creative talent here in Kerry and we want to ensure that they have every opportunity to grow and succeed internationally. The filmmaking industry in Ireland has become an important business for the Irish economy, KIFF and Kerry Airport can together showcase the filmmaking talent and stunning scenery our wonderful country has to offer."

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Housing Will Never Be The Same

Last week I wrote about the pathetic investment options out there for Irish investors. Despite high ongoing fees (mortgage, maintenance, insurance etc.) and the actual headache of being a landlord, […]

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Last week I wrote about the pathetic investment options out there for Irish investors.

Despite high ongoing fees (mortgage, maintenance, insurance etc.) and the actual headache of being a landlord, it’s easy to see why real estate functioned as the de facto investment portfolio for an entire generation.

Wealth creation was a rinse-and-repeat function where couples put money away until they had enough for the ‘next house’. As a result, we have an economy where 70% of household wealth is tied up in real estate.

Driven by the profits it created, Ireland became obsessed with owning real estate.

But real estate as an investment won’t be nearly as successful for our generation. (If you are able to get a house, that is)

All you have to do is look at the anecdotal evidence all around us to confirm this.

My parents bought the house they currently live in for 30k (pounds) 35 years ago. The house is now worth roughly 450k.

I typically despise these back-of-the-envelope calculations when It comes to property, given the endless variables and ongoing costs involved, but bear with me.

That’s a gross return of 15 times the original value. Now there are upgrades, a change in currency and other adjustments to consider here, so for argument’s sake, let’s call it 10X.

To achieve the same level of growth over the next 35 years, you would be left paying 4,500,000 euros for what is a pretty modest house.

Sure, we will still see property prices increase over time, but the rate of growth won’t be anywhere near as meaningful for one simple reason.

Interest rates.

Artificial Growth

Over the last 30 years, real economic growth has been stagnant, yet Ireland has experienced enviable nominal growth.

How did we manage it?

We created imaginary wealth.

We pushed interest rates lower and lower to stimulate economic growth.

And it worked.

After all, if you make 100k/year you can probably afford a 400k mortgage at 4%. At 2%, with the same 100k/year salary you can now take on 600k in debt.

So, were we getting richer, or was the debt just easier to afford?

Where do we go from here?

We have now squeezed interest rates as low as they can go.

The house price appreciation we have seen was justifiable because the mortgage rates on housing continued to fall in recent decades. This allowed people to take on more debt without severely impacting their ability to repay that debt.

If we go back to my parents, they were paying 14% on their mortgage. Mortgage rates are currently between 2 to 3%.

A relentless drop in interest rates gave way to higher and higher prices for houses, but interest rates are now on the floor.

The juice has been squeezed.

In fact, the trend has started to reverse, with rates expected to rise 1.5% in the first half of 2023

Be mindful that the same credit expansion cannot happen again.

How the next generation thinks about their investment options has to change.

Banks offering 0% returns for the use of your money and a housing ladder you can’t get on are not your only two options.

If you need help creating your own investment portfolio, just reach out to me at mike@theislandinvestor or simply scan the QR code above.

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Biddies performance celebrates St Brigid

Two local Biddies groups performed at Muckross House as part of St Brigid’s Day celebrations in aid of Kerry Parents and Friends Association. The Killarney Parents and Friends Biddy Group – formerly […]

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Two local Biddies groups performed at Muckross House as part of St Brigid’s Day celebrations in aid of Kerry Parents and Friends Association.

The Killarney Parents and Friends Biddy Group – formerly known as the Beaufort Biddy Group – and Kilgobnet Biddies came together for the event.

The tradition of the Biddies is one of the oldest and most colourful customs in Ireland, a blend of pagan and Christian pageantry, held on February 1 each year, heralding the beginning of springtime and honouring St Bríd the patron saint of the farming community.

Master traditional craftsman, Pat Broderick, at Muckross House, was also part of St Brigid’s Day celebrations, making a St Brigid’s Cross as part of the traditions.

 

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