Since the overall culture depicted in fantasy gaming is primarily European, the Wilderlands ends up being a kind of fantasy America, a mix of European & Native American cultures. A few other guesses regarding fantasy worlds:

Middle Earth = Europe + Central Asia. In the context of Europe, the elves are the earlier peoples & the men are Indo-Europeans. In the context of Central Asia, the elves who went west are the Indo-Europeans, a language family once prominent there but which has now dwindled.

Narnia = the Caucasus, on the sea explored by Prince Caspian. Georgia & Armenia are Archenland & Narnia [where Aslan is a common name]; Calormen is Azerbaijan.

Genertela of Glorantha = the Greek Peloponese [Peloria], 1600 years after the dawn of recorded history [Late Bronze Age]; + the Hellenic Empire at its farthest eastern extent near the real-life city of Furthest [Alexandria/Cyr Eschate] & the Khyber Pass [Dragon Pass]. A red lunar eclipse occurred on the eve of Alexander's defeat of the Persian Emperor.

World of Greyhawk = Asia with the edges of Europe & Africa, although it's probably not a close correspondence other than the coastlines.