It is cheaper getting your licence abroad but the problems come when:
1. You pass your CPL, but because your hours are so low no-one can employ you as they can't get you insured.
2. It's much easier for companies to employ a resident of the country rather than go through a load of hassle to employ johnny-foreigner.
3. You find out you can't stay in the country and end up having to come back to the UK where the
CAA tell you that your licence isn't worth a damn and if you want to fly over here you'll have to do all the ground school & exams again!
Not that I'm bitter