For instance, YouTube Premium charges 12€ in my home country. However, where I’m staying now they would charge less than 3€.
So, if I would like to take advantage of this, I assume I’d need to create a new Google/YT account, which would mean I’d lose all subs, playlists etc that I’ve created?
Or am I missing something here?
You can cancel your subscription and start a new one locally at the cheaper rate.