The Collaborative International Dictionary of English v.0.48:

Dreamland \Dream"land`\, n.
   An unreal, delightful country such as in sometimes pictured
   in dreams; region of fancies; fairyland.
   [1913 Webster]

         [He] builds a bridge from dreamland for his lay.
                                                  --Lowell.
   [1913 Webster]

WordNet (r) 3.0 (2006):

dreamland
    n 1: a pleasing country existing only in dreams or imagination
         [syn: never-never land, dreamland, dreamworld]