An Etymological Dictionary of the German Language/Welt
Welt, f., ‘world, society,’ from the equiv. MidHG. wëlt, usually wërlt, werëlt, OHG. wëralt (worolt), f.; the MidHG. and OHG. word has also the earlier signification ‘age, saeculum.’ Comp. OSax. wërold, ‘earthly life, age'; Du. wereld, AS. weorold, worold, E. world, have the ModHG. meaning. The double sense ‘world' and ‘age' can hardly be explained from one primary form; the latter meaning is linked with OIc. ǫld, AS. yld, ‘age'; the former seems to be based on a collective sense, ‘humanity,’ which follows from OLG. ęldi, AS. ylde, OIc. elder, ‘men.’ The first part of the compound (Goth. waír-aldus) is Teut. wër, ‘man, person’ (see Werwolf). Welt, like Himmel and Hölle is peculiar to Teut.