Here’s a quick overview of the Hyborian Age cultures and their real-world equivalents, grouped thematically:
AQUILONIA: Medieval France
ARGOS: Merchant-ruled Italy
ASGARD AND VANAHEIM (NORDHEIM): Viking-age Denmark or Norway
BARACHAN ISLES: The Caribbean Islands, particularly Tortuga
BORDER KINGDOM: Baltic countries such as Estonia or Latvia
BOSSONIAN MARCHES: Medieval Wales and/or Scotland
BRYTHUNIA: Medieval Germany, Poland, or Lithuania
CIMMERIA: Gaelic Ireland and Scotland
CORINTHIA: Medieval Greece
DARFAR, KESHAN, KUSH, PUNT, ZEMBABWEI, AND THE BLACK KINGDOMS: Ancient African kingdoms such as Darfur, Nubia, Kush, Somaliland, Zimbabwe, and others
HYPERBOREA: Medieval Rus (Russia), particularly Novgorod
HYRKANIA: A cross between Mongolia and Scythia
IRANISTAN: Caliphate Iran
KHAURAN: Medieval Syria
KHITAI: Feudal-era China
KHORAJA: Constantinople or the land known as Outremer
KOTH: The Byzantine Empire
NEMEDIA: The Germanic Holy Roman Empire
OPHIR: Medieval Sicily or Malta
PICTISH WILDERNESS: A combination of Scotland and Native American North America
SHEM: The west is the Iron Age Levant (Canaan) and Assyria, and the east is Arabian
STYGIA: Ancient Egypt
TURAN: Seljuk Turkey
VENDHYA: Mughal India
ZAMORA: Persia, especially Baghdad
ZINGARA: Reconquista-era Spain
Core Book ch.8, p.204.