Turkish construction companies have won tenders worth billions of dollars in Qatar so far and hope to get a significant share in the construction work the Gulf country will undertake as host of the 2022 World Cup.
Some believe Turkey is also targeted by the pressure being piled on Qatar, as Doha appears to be a major financial backer for Ankara.
Turkey's military operation in Syria from August last year to the end of March, which blocked the Kurdish cantons from uniting, must have disturbed the U.S., argued Yusuf Halacoglu, an independent lawmaker.
"Punishing Qatar comes to mean punishing Turkey, as the Turkish economy runs thanks to hot money from Qatar," he told Xinhua.
Burhan Kuzu, a top adviser to President Erdogan, believes Turkey is the real target in the crisis.
"They are trying to strike (Turkey) via Qatar. This is a project aimed at isolation," he told the news portal gazeteduvar.com.tr.
Maintaining that Qatari financial investments in Turkey may even be bigger based on various reports in local media, Uzgel said "therefore the place of Qatar is indispensable for Turkey under current conditions."
"Turkey's disproportionate support to Qatar is clearly propelled by the heavy dependence of the Turkish economy on Qatari funds," stated Logoglu.
Other than being a major direct investor, Qatar is estimated to be a leading provider of hot money for the Turkish economy, which is hugely dependent on foreign funds.
Many also feel that the swift support by Turkey's ruling Justice and Development Party (AKP) to Qatar has more to do with its financial ties with the Gulf country than with national interests.
The AKP's financial interests rather than Turkey's national interests play a determining role in the government's position regarding the crisis, maintained Halacoglu.
Noting the ruling party did not move as fast in the past when some national interest was at stake, he said "those who govern Turkey are aware they can not remain in power if the inflow of Qatari money stops."
"Such a policy would take Turkey nowhere," Halacoglu cautioned, arguing that Ankara's Middle East policy needs to be thoroughly overhauled.
Uzgel sees the Turkish military base in Qatar as a move aimed at securing the regime's survival in return for an unending inflow of Qatari funds into the Turkish economy, which suffers from a chronic current account deficit.
Both Turkey and Qatar underlined that the Turkish military deployment is aimed at contributing to the security of the Gulf region.
Other than land forces, naval vessels and fighter jets will also be deployed in the Turkish military base in Qatar.
It is also widely speculated that the Turkish government has dubious financial dealings with Qatar.
In the past ten years or so, huge amounts of foreign money in the Turkish Central Bank's reserves were designated as unregistered, or money with unknown origin.
Such unaccredited money was as much as over 10 billion dollars in 2015 and over 11 billion dollars last year, according to data by the Central Bank.
The claim was most recently cited by two CHP deputies in parliamentary questions submitted earlier in the month.
In his question, Aytug Atici drew attention to the serious increase in the past two years in the amount of unregistered money and demanded to know if Qatar may have been financing some terror groups via Turkey.
Turkey and Qatar have supported the same rebel groups in war-torn Syria.
Eren Erdem, for his part, demanded to know whether the Turkish government's sensitivity about Qatar has anything to do with the huge amount of unregistered foreign money that appeared in the Central Bank reserves during the AKP's term in power.
He also asked about the business ties between Qatar and the owners of some pro-government media outlets and high-level AKP figures.
Many fear Turkey would find itself in a hugely uncomfortable position should the Qatari regime yield or be overthrown under pressure from the U.S. and the Gulf countries.
"In the day after the crisis, Qatar itself may not be in a position to maintain the same level of ties with Turkey," warned Logoglu. "Thus Turkey probably stands to lose no matter what happens."
"In such a case, it may be very difficult for Turkey to mend the broken relations with Saudi Arabia and other countries," Uzgel added.
