I would highly recommend Artu abrasive products. Both their bonded carbide and diamond products are absolutely excellent quality. The abrasives cut cleanly, don't debond when they get hot from use (although you should still lubricate the cut), and are extremely long-wearing.
Since clean holes are important on tile, and you don't want to fracture the tile, I think your money would be well spent on a decent hole saw.
Most of their bits are made in Germany, although I've found some products made in the UK as well.
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