Qatar is aiming high as it attempts to take full advantage of its economic potentials. The drive is partly a reflection of ongoing works relating to host the World Cup for the first time in the region. Likewise, the aviation sector is contributing by helping distinguish the country as a whole.

The economy is growing above the average of Gulf Cooperation Council member-states. The IMF expects GCC economies to collectively grow by 2.3 per cent in 2017, up from 1.8 per cent in 2016. Yet, the growth for Qatar’s economy is put at 3.6 per cent between 2016-18.

A primary factor behind this notable performance concerns the spending associated with the World Cup 2022. It emerged recently that Qatar invests some $500 million every week on projects associated with the event.

These include constructing stadiums, rail and road networks. Private sector investors are investing to expand the hospitality sector.

With regards to aviation, in February, Qatar Airways made history by launching the longest commercial flight — from Auckland to Doha, cutting the distance of 14,535 kilometres in about 17 hours and 30/40 minutes depending on headwinds. This is regarded as the furthest distance for a direct flight between any two cities.

Officials are turning inflows of passengers through Doha airport as a source of revenue. In late 2016, the authorities started implementing a new fee of nearly $10 on passengers leaving and transiting through Hamad International Airport. The fee is meant to make passengers pay for use of the airport facilities.

Make no mistake, this fee supplements other existing fees and taxes.

The practice of charging passengers for use of airport facilities is relatively new within the GCC. To be sure, Dubai International was the first regional airport to introduce a fresh tax for use of facilities.

Millions of passengers pass through HIA annually — some 17.6 million passengers did so in the first half of 2016 alone, showing a growth of 20 per cent over the same period a year earlier. Qatar Airways operates flights to more than 150 destinations worldwide.

In a clear appreciation of the transit business, Qatar is targeting stopover traffic in 2017. Passengers of Qatar Airways holding onward boarding passes to flights within 5- to 96 hours can get free transit visa, a move designed to benefit the local economy through visitors spending on transport, hospitality and telecom, to name a few.

Qatar succeeded in raising $9 billion in Eurobonds in the international markets in May 2016. It was considered the biggest-ever bond issue by any government in the Middle East until Saudi Arabia raised a notable $17.5 billion in October last.

The funds was meant to help with the budgetary deficit. However, the need for a large debt raising in international markets is less urgent in 2017 thanks to the drop in the budgetary shortfall. The projected deficit in 2017 stands at $7.8 billion, down 40 per cent from 2016.

The Qatari economy is heading for a soft landing in the foreseeable future thanks to some of innovative projects. The challenge concerns staying ahead notwithstanding regional and international competition.

The writer is a Member of Parliament in Bahrain.