All the races are an amalgam of multiple groups irl. The older night elf architecture is clearly ancient Roman/Greek inspired. While their language is more arabic/islamic. "Ishnu'allah" and the newer druidic night elf architecture is Asian influenced.
High elf/blood elf is clearly dome and teardrop shaped with smooth stone. That seems more islamic or perhaps Russian. But the language being close to the night elves the accent sounds more European or even american.