I studied for my PPL licence 33 years ago and in those days the then new Robinson R22 was available for training in Canada at around 65 quid/hr! USA prices were a little higher but not by much. The magnet was drawing me there purely on hourly cost, but hating the look of this new fangled toy helicopter I decided to do some sums elsewhere. Additionally I wanted a CAA licence not FAA.
I ended up flying a proper machine (Enstrom), with the best instruction anywhere, here in UK which was a very wise decision.
Completed on minimum hours,paid 10 hours up front to get 5% off, reclaimed the 12.5% VAT (different times), and with the money I had saved not flying across the atlantic and living costs overseas for weeks/months I reckon I had actually saved a few quid?
You need to put much more in the equation than just hourly flying cost. It's like Ryanair. 20 quid for a flight but by the time you have flown from the wrong airport, paid for bags, cc fee, boarding card,sandwich, and their bus to take you the 2 hours into town because you landed at the wrong airport it was cheaper to go BA!