Here are the other African cities that made it to the list.
The research on 77 metropolitan areas looked into a subset of data on where young people could buy a range of goods and services, including an Apple phone and a laptop and a Netflix subscription.
Johannesburg (53rd) was ranked Africa's most expensive city followed by Nairobi (68th), Lagos (76th) and Cairo (77th).
The report used New York City as the benchmark.
Zurich and Geneva are still the world's two most expensive major cities, according to the report released on Tuesday.
People in Zurich benefit from having the third lowest iPhone prices in the world but they will have pretty empty pockets after paying the highest prices for their jeans, Netflix and coffee.
In Zurich, the average price of a haircut costs $94.30 whereas in Cairo the same goes for $7.50.
At $6.33 a pop, a Big Mac in Zurich approaches the cost of a whole meal in other cities while in Cairo a similar meal will set you back only $3.71.
However, according to the UBS study, Cairo ranks near the bottom in terms of average annual salary and purchasing power.