At R17,67 to the Euro you looking at R7068 for the race, that is pretty darn good. Problem is getting there, then it gets a bit pricey.
Honestly I would rather pay a bit extra, fly to Europe and ride there, you get to see a new country and that is already a drawing card.
I have done 2 trips to France to go ride for a week in Morzine and the accommodation isn't super cheap (there is way cheaper, depending on your budget) but its still cheaper than most multi day stage races excluding the tickets.
I just think some races/events are overpriced. Look everyone must make some money but daylight robbery isn't cool. But if your willing to pay more you'll probably get a less busy race/ride which is also ok.