The city of Montreal spends a large portion of its annual

I am going with B. 'Will increase' ==> Future

D for me, the conditional IF is not justified in this context

Very close choices. But I will vote for C.

Even though means despite the fact that and is a more emphatic version of though and although.

Even if means whether or not and has to do with the conditions that may apply.

Even if is better. reason : to use even though, the later part of the sentence should read.... X is doing y, even though they have failed earlier.

But to use even if - X is doing Y, even if they are not sure to win the match.

My vote is for D....even though seems to put the condition and the tense in correct way.

@gurpreetsingh
I have to disagree with you,
Even If: expresses something not expected, but in this context it's in fact expected (the author said that Monteral is not certain, so it's expected)
on the other hand, Even though shows opposition and we need to show that opposition or the contrast(ex: they watched the movie, even though they knew it was horrible).
overall the sentence is terrible, I think there is redundancy issues, in D you can delete the phrase(by no means) and the sentence would still make sense, but IMO that is the best option out there

Wonderful discussions friends.OA is D

Stuck between C and D. OA please?

please note that in most of the cases if is used along with then - here in a,b and c - only if is used .Also b and d are better then c since "the city" makes them more clear. A has got pronoun error as well

So, in the end left with D.

If my reasoning is wrong then please correct me

The city of Montreal spends a large portion of its annual budget on the construction of tourist attractions such as amusement parks, even if it is by no means certain that the construction of tourist attractions increases revenue from tourism.

a)even if it is by no means certain that the construction of tourist attractions increases
It does not have a proper antecedent to refer to

b)even if the city is by no means certain that the construction of tourist attractions will increase
Will increase talks about the future whereas the tense in the entire sentence is Simple Present. The city is already spending hence the IF...THEN clause needs to remain in the Simple Present.

c)even if there is no certainty that the construction of tourist attractions increases
CORRECT. IF +PRESENT+ THEN + PRESENT.

d)even though the city is by no means certain that the construction of tourist attractions increases
This option is redundant: by no means certain = not certain/ no certainty

e)though there is no certainty as to the construction of tourist attractions increasing
Increasing is in the Progressive tense which is incorrect in this context. "As to" wrong usage.

even though ... gives the clear contrast ...But I picked C ....
I thought The problem in D is ..the (city is by no means certain ).. was not sure of this... how can city be certain or not certain ??
wish we could have Tommy W to explain this ! ( read that he will not participating in the forum discussions for some time )

IT has a clear referent. The parks and attractions are plural and cannot be referred using the singular pronoun IT. IT can only refer to the city. And do remember that pronoun ambiguity is to not a absolute rule in GMAT. Please look up Ron Purewal's discourse in the "Thu with Ron" archives.

This is a good question and it tests the expression of contrast which is given by D and E.
Thank you.