Just to confuse things further, 'The Lowlands of Holland' has been interpreted variously as referring to Brazil, the West Indies (or possibly Dutch East Indies) and - according to Wikipedia - Australia, (which was once known as New Holland).

It's a while since I looked into it, but some Scots versions of the song have the young man equipping his own ship for an expedition to New Holland, which is described as "a barren place" – where, nonetheless, sugar cane and wine are plentiful.