Using data from 62 tropical cyclones (TCs) that landed in Guangdong Province in China between 2000 and 2019, we calculated six indices—minimum central pressure, maximum wind speed, maximum rainstorm ratio, cumulative surface rainfall, cyclone track length and lifetime—and constructed a projection pursuit dynamic cluster (PPDC) model to assess TC damage risk. Although a single index may provide correct information on the intensity of certain types of damage, a comprehensive damage risk assessment cannot be obtained from individual indices alone. The PPDC model is a stable tool for TC damage risk assessment, especially in terms of economic loss, agricultural disaster area and disaster-affected population. Model validation improved the correlation of each of the indices. Output from the PPDC model for disaster-affected population and agricultural disaster-affected area also improved after model validation. We examined the limitations of the single indices using data from three TCs. Output from the PPDC model can closely reflect the intensity of the damage caused by the cyclones. Projection pursuit dynamic clustering is a new and objective method for typhoon damage risk assessment, and provides the scientific basis to support disaster prevention and mitigation.