Cheap? Yes, if you come from a country like the US, UK, Germany, etc. The problems is that salaries for tech jobs aren't very good compared with said countries.
We decided not to go to Lisbon because of the sheer amount of 'jumpers' (I don't know the proper term): people who will go to another company for E100/month more (probably because there is so much choice there). It's too hard to filter them out and we don't want them. We tried it for a bit but people coming to interviews with proposal letters from other companies in hand to get you to outbid is just not what we want. It's like cheating; you'll know they'll do it again.