This dataset produces a tropical cyclone risk (e.g. asset loss) model for the Philippines based on open-source data, geared at supporting nonprofit applications. This model is appropriate for estimating return levels of tropical cyclone wind speeds and asset losses at the regional to national scale in the Philippines. The files and code included in this data repository allow for reproduction of the different model components (e.g. the hazard, vulnerability, and exposure layers) and the model validation. The data produced by this model and used in the publication are also made available here– namely the tropical cyclone wind fields for observed and synthetic storms over the Philippines, the vulnerability and exposure layers, and the resultant asset losses.