In a worksheet we had the statement "I love it here. Let's return next year." A student asked what "it" refers to and I'm not exactly sure myself. Is the "it" here a kind of dummy it?
Doesn't "it" represent "the experience of being", or just "being"? I think it is subtly distinct from loving the place in the abstract, which could be for other reasons.
"I like America. Its trade war against China has weakened the Chinese currency, making Chinese goods cheaper for my family in the UK. I don't like it in America, though. Guns make me anxious."
"Oh, I got used to the guns: I love it here!"