In Australia, we get PPVs really cheap ($29.95 per month). Don't know what that translates to in U.S. dollars, but it is quite affordable.
The reason we get it cheaper is because, back in 2003, the WWE were thinking of lifting the price of PPVs dramatically. A lot of cable companies went along with it, but Australia's cable company (Foxtel) (which carries wrestling) refused to comply, saying that customers wouldn't agree to the new cost, and they won't get people buying it on the PPV channel.
As a result, Australia were stripped of WWE programming. They lost the right to renew contracts to show "Smackdown" and WWE PPVs, and only kept Raw because its contract with the station for showing "Raw" still had six months to go. So, Australia had little WWE TV at all in 2003. In fact, I had to watch WMXIX at my local movie theatre, who were the only ones who could afford the new cost of the PPVs.
However, WWE planned to come to Australia for a tour in 2004, after the successful Global Warning Tour (which was the highest attended WWE tour show at the time). Ric Flair came down to promote it. Two weeks later, WWE was back on TV in Australia.
The story goes that Flair was met by angry Australian WWE fans, who were irate that they no longer got WWE television. When word got back to WWE, they were worried that it might affect ticket sales for their upcoming Australian tour (since Australia is so far away, and had hardly had any WWE tour, other than the GW Tour the previous year, for over twenty years, it looked like their tour could have taken a major hit).
As a result, WWE re-negotiated with Foxtel, and WWE got all the shows, including PPVs, put back on, and we were only charged $5 more per PPV.
I suspect that the US and England pay a lot more because they gave into the WWE's massive price increase, for fear of losing WWE product on their TV, but Foxtel in Australia (as well as two other countries, I believe, were the only hold-outs) refused to play ball, and eventually their stance bore fruit.
So you pay so much for PPVs partly because of WWE, and partly because the people who screen WWE in your country don't have a set to stand up to WWE.