An average cost of 1 hour rent of computing power provided by AWS, Google Cloud, Microsoft Azure for European countries is $6,5 - $10,5.

The hourly costs for a server on AWS is way lower than this number. For example, a d2.8xlarge instance on AWS costs 5.88$ per hour in the Ireland zone. This instance gives you 36 vCPUs, 244GB RAM and 24 2TB HDD drives. The cheapest option is even free for the first year, after that you pay 0.0126$ per hour.

AWS Pricing:
https://aws.amazon.com/ec2/pricing/on-demand/

AWS Free Tier:
https://aws.amazon.com/free/

Usage of cloud services is always dependent on what you want to do. And if you start using cloud services you also have to factor in more variables than just the price.