Edelman PR

Earlier this week Edelman helped National Irish Bank to launch its new wealth report, ‘The Emerald Isle – The Wealth of Modern Ireland’, which shows that household wealth in Ireland will surpass €1 Trillion in 2008. The report garnered widespread coverage in the Irish Times, Irish Examiner, Irish Independent, Irish Sun, Irish Daily Star, Metro, Herald AM, RTE, TV3, 2FM and a number of regional radio stations.

Photo credit - Maxwells Photography

Here are some of the key highlights of the report:
 
• More Luxury Private Jets Bought in Ireland in recent years than any other European Country
• More Mercedes cars per head in Ireland than in their native Germany
• Purchasing Wine, Art and Ranches are now Lifestyle Choices
• Excluding household debt, net wealth per household is €547,000
 
According to Garvan Callan, Head of Wealth Management at National Irish Bank, “You only have to look at the changes in lifestyle to gauge the amount of wealth that now exists.  Take travel, for example.  Irish people are spending more money on holidays than ever before and are choosing ever more exotic locations.  Since 2000, luxury brand Jaguar has increased its market share by one-third, and that of Mercedes by a half, while Porsche’s market share has tripled.”
 
Garvan Callan continued, “There’s a lot of doom and gloom out there at the moment, but if Irish consumers are feeling gloomy, they have a strange way of showing it.  Some are gloomy on the way to Brown Thomas – retail sales in 2007 were very strong.  Others are gloomy on the way to the airport – Irish people had 800,000 more trips abroad in 2007 than in 2006.  Some are terribly glum as they test drive the latest car – a recent National Irish Bank survey suggested that 60% of respondents were considering buying a car in 2008.  In January, Mercedes dealers had a big jump in sales compared to the same month last year.  There are more Mercedes per capita in Ireland than in their native Germany.”
 
National Irish Bank’s rapidly expanding team of Financial Planning Managers work closely with customers to prioritise their financial needs and prepare tailored solutions, based on the Bank’s specialist model.  This model focuses on protecting, generating and growing wealth both in terms of the customers own lifetime, as well as for their next generation.

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