"In Tibetan Buddhist tradition, Shambhala (also spelled Shambala or Shamballa) is a mystical kingdom hidden somewhere beyond the snowpeaks of the Himalayas. It is mentioned in various ancient texts, including the Kalachakra and the ancient texts of the Zhang Zhung culture which pre-dated Tibetan Buddhism in western Tibet. The Bön scriptures speak of a closely-related land called Olmolungring.
Shambhala is a Sanskrit term meaning "place of peace/tranquility/happiness". Shakyamuni Buddha is said to have taught the Kalachakra tantra on request of King Suchandra of Shambala; the teachings are also said to be preserved there. Shambhala is believed to be a society where all the inhabitants are enlightened, centered on a capital city called Kalapa." (from Wikipedia.org)