In the allegory of the olive tree, the land of promise is referred to as a good spot of ground (Jacob 5:25). See also Ether 2:7-12. The reasons why this is such a choice land is described in the next several verses.
Joseph Fielding Smith
"The Book of Mormon informs us that the whole of America, both North and South, is a choice land above all other lands, in other words-Zion. The Lord told the Jaredites that he would lead them to a land ’which is choice above all the lands of the earth.’…
“When the Lord began to lead the family of Lehi to this land, he said to them: ’And inasmuch as ye shall keep my commandments, ye shall prosper, and shall be led to a land of promise; yea, even a land which I have prepared for you; yea, a land which is choice above all other lands’ It is generally understood that they landed in South America, and that their nations, the Nephites and Lamanites, dwelt in South and Central America during the greater part of their sojourn here. At any rate, the time of their civilization was principally spent in the south and not in the region now comprising the United States. This proves beyond the possibility of doubt that the choice land was South as well as North America, and while the City New Jerusalem, which the Book of Mormon tells us is to be built on this land that is choice above all other lands, will be in Jackson County, nevertheless, if one accepts the Book of Mormon, one must accept the whole hemisphere as the land of Zion.” (Doctrines of Salvation, vol. 3, p. 73)
Spencer W. Kimball
"This America is no ordinary country. It is a choice land, ‘choice above all other lands’ (q Ne.2:20). It has a tragic and bloody past, but a glorious and peaceful future if its inhabitants really learn to serve their God. It was consecrated as a land of promise to the people of the Americas, to whom God gave these great promises:
‘It will be a land of liberty to its people’ (2 Nephi 1:7).
‘They shall never be brought down into captivity’ (2 Nephi 1:7).
‘And there shall be none to molest them’ (2 Nephi 1:9).
‘It is a land of promise’ (1 Nephi 2:20).
’It shall be free from all nations under heaven.’
’There shall be no enemies come into this land.’
‘It shall be free from bondage’ (Ether 2:12).
‘There shall be no kings upon the land’ (2 Nephi 10:11).
‘I will fortify this land against all other nations’ (2 Nephi 10:11).
‘He that fighteth against Zion shall perish’ (2 Nephi 10:13).
"But these promises, glorious though they be, desirable as they are, can come only ’…if they will but serve the God of this land who is Jesus Christ…’ (Ether 2:12). There is only one way. That infallible cure is simply righteousness, obedience, Godliness, honor, and integrity. There is no other cure. Mountains of arms and ammunitions will not guarantee safety, for enemies can also build fortifications and missiles and bomb shelters. If we would but believe the prophets! For they have warned that if the ’inhabitants of this land are ever brought down into captivity and enslaved, it shall be because of iniquity; for if iniquity shall abound cursed shall be the land’ (See 2 Nephi 1:7). (Spencer W. Kimball, Conference Report, Oct. 1961, pp. 30-31 as taken from Latter-day Commentary on the Book of Mormon compiled by K. Douglas Bassett, p. 6-7)