Wall Street might have collapsed, Detroit might have gone bankrupt and the American consumer might have given up spending for the first time in 60 years.

But the revenues of one industry have soared by 14 per cent since January and, with the help of a psychotic robot, the crew of the USS Enterprise and an English boy wizard, it hopes to make 2009 the best in its history.

Yes, Hollywood is booming.

“Escapism seems to be the order of the day,” said Jeff Brock, a senior analyst at Exhibitor Relations, a box-office tracking company. “People don’t want to sit around at home worrying about the economy — they want to get out, and going to the movies is one of the cheapest forms of entertainment.”

A strong line-up of films has helped the boom. Next weekend the latest eagerly anticipated Star Trek movie will be released. Directed by J. J. Abrams, the creator of the television show Lost, it will feature an all-new cast playing familiar characters such as Captain James T. Kirk and Spock.

Other films due for release include Angels & Demons, the follow-up to the blockbuster adaptation of The Da Vinci Code by Dan Brown, and Terminator: Salvation, starring Christian Bale. Arnold Schwarzenegger, the star of the first three Terminator films and Governor of California, is expected to have a cameo role. The biggest earners are expected to be Transformers 2 and Harry Potter and the Half Blood Prince.

“It certainly looks like a strong line-up,” said Patrick Corcoran, a spokesman for the National Association of Theatre Owners. “Many of the movies already have a strong buzz about them.”

An unexpected development could spoil the boom, however: swine flu. The premiere in Mexico City of X-Men Origins: Wolverine was cancelled and,in the US, there is talk of having outdoor screenings, and of cinemas handing out free face masks to worried patrons.

The industry, however, is keen to play down such rumours. “So far, talking about the effect of swine flu would be kind of speculative,” Mr Corcoran said. “Theatre owners are simply monitoring what the Government and the health authorities are telling us.”

The boom in Hollywood despite the depressed times is a phenomenon that veteran movie executives recall from previous downturns. “In five out of the last seven recessions box-office revenues have increased,” said one.

Analysts expect domestic US box-office revenues to reach $4.5 billion (£3 billion) this year — up from $4.1 billion in 2008 — but income from abroad has fallen because of the stronger dollar.

Less encouragingly, while more Americans are deciding to go to the movies, they are not spending very much money when they get inside the multiplex, according to some analysts.“People are sneaking in with sandwiches in their pockets and not buying any hot dogs,” Mr Brock said.

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