Qatar says its citizens and residents won't face economic hardship, despite the sea, air and land embargo imposed by its Gulf neighbours Saudi Arabia, the United Arab Emirates and Bahrain.

For Qatar to find alternative suppliers is much easier than for Saudi to find alternative clients at this period of time.

Abdulaziz al-Horr, CEO of Qatar Finance and Business Academy

Thus far, the blockade has forced trucks laden with food supplies to turn back at Qatar's only land border with Saudi Arabia; similar action has also meant construction materials intended for the FIFA World Cup 2022 stadium developments have been rerouted.

Saudi and Emirati ports have also enforced bans on Qatari vessels and products moving to and from their hubs, while Qatar Airways flights have taken lengthy detours over Iranian and Omani airspace, affecting thousands of business travellers and families across the GCC

But according to Abdulaziz al-Horr, CEO of Qatar Finance and Business Academy, the current situation is not entirely unique, saying that based on experiences with previous crises in the last decade, Qatar has prepared contingency plans that put the peninsula in a good position to weather the storm.

On concerns about how the actions taken by Saudi Arabia, the UAE and others might affect the progress towards a successful 2022 World Cup, Horr says: 

"Most of the construction materials come through Hamad port, not the Saudi port ... very minimal materials come through the border. Most of the companies working on the construction for the metro and the World Cup 2022 are international companies, who have different and secure supply chains." 

When stocks fell as the crisis began to develop last week, questions about the wider effects of the crisis on Qatar's economy emerged.

"Stock markets are very sensitive to bad news and good news. The first day there was panic ... and panic breeds panic. But [now] it's business as usual, hypermarkets as usual, food supplies are as usual. This country has done its homework."

On his feelings regarding a resolution to the conflict, Horr continues to relay a positive message, "I'm confident. It requires dialogue and dialogue and dialogue."

Source: Al Jazeera