WWE has always toured overseas, not just during "down" periods. They make great money abroad, playing to large wrestling-starved audiences rather than hitting, say, Memphis for the 8th time in a twelve month period.
As for smaller venues, I assume these venues are booked months and months in advance. Now that they are consistantly selling out, I would expect them to start booking larger venues again.
Of course, the danger is that when the time comes to play those venues, they will be half empty again.
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