Since March 105,639 people walked the greenway and 141,906 cycled it.
The 46km off-road trail runs along an old railway line between Waterford and Dungarvan.
A total of 94% of the 247,545 people who used the greenway, rated is excellent or good.
In terms of safety, 78% rated the safety of the greenway as excellent, whereas 66% said the conduct of others was good.
Most of the visitors who were surveyed came from within the county, and one third came from elsewhere in Ireland. Just 2% gave addresses overseas or in Northern Ireland.
Aside from accommodation, the average spend per person along the greenway route was €28.50.
The survey also revealed that most visitors brought their own bike with them as only 27% of users needed to hire one.
A quarter of visitors said it was their first time on the greenway, whereas 15% use it daily and 27% use it weekly.
The route takes in viaducts, a disused tunnel and coastal stretches and most people said that the landscape was the biggest draw.
A total of 70% liked the scenery and nature along the route, 51% liked being away from traffic, 36% said it was peaceful and quiet and 21% were interested in its features
Waterford City and County Council chief executive Michael Walsh said the greenway has had a major impact.
“Developing the greenway was a significant but a very worthwhile investment that is having a major economic and social impact across our county, not just during the peak tourist months but throughout the year.
“Waterford is the jewel in the crown along Ireland’s Ancient East and the Waterford Greenway has not just drawn visitors into our county but it has helped us all to take stock and appreciate the fantastic natural amenities we have on our doorstep.
“Again and again, visitors, I’ve met along the route comment on the friendliness of locals and the varied landscape that stretches from the city to the mountains and down to the sea,” said Mr Walsh.