1. The Howard - Edinburgh
Even with the exchange rate the cost is comparable to any Fairmont. I absolutely LOVED the food! Be sure to make a reservation. It's definitely a nice break if you visit during the colder months.
2. Pennisula - Hong Kong
First of all, even if its scorching hot, remember there is a dress code. Sandals, shorts and other inappropriate wear is not welcome. The legendary Pennisula is not cheap, but it's certainly well made!
3. Fairmont Empress - San Francisco
Similar to the Pennisula, smart casual is a requirement for dress. All the Fairmont hotels have a high standard for high tea but this location is better than most. You can also enjoy a glass of California wine if you want to splurge, but isn't the point of high tea... the tea?
4. Fairmont - Vancouver
I personally hate raisins, but if you call ahead you can have your freshly made scones made raisin free! Be sure to make a reservation, since this is a popular location. The Vancouver location is surprisingly a cut above the acclaimed Empress Hotel in Victoria which has a habit of serving cold scones and not particularly great desserts.
5. Park Hyatt - Toronto
I actually think the Annona is equal to the Fairmont in Vancouver but perhaps its missing the traditional setting normally associated with afternoon tea. I've always wished Casa Loma started serving high tea in their garden/solarium.