-Bretons are British
-Nords are Scandinavians
-Bosmer are hippies
-Imperials are Italians (Roman)
-Orcs, Argonians are African (Slave pop, frequently sacked homeland)
-Khajit are nomadic traders universally victims of bigotry aka gypsy/jewish.
-Redguards represent all non white cultures east of Europe. Turbans and dark skin.
-Dark elves I'm less sure about, maybe greece?
Before anyone gets their panties in a twist I'm suggesting that these are what they are based on, nothing else.