Georgia also has an abundance of English speakers, unlike most of Asia. It has a large population of computer scientists and engineers, unlike Africa.
You are speaking about a country of four million people. The capital has a population of less than 1.5 million, and the regions outside the capital are largely uninteresting for IT investment. The abundance of English speakers and large population of engineers need to be seen in relation to that.
English in Georgia is largely limited to the young generation, people over 35 are more likely to speak Russian than English, even though they probably won't like to. I guess you could find more English speakers in many Asian cities than in Georgia, depending on what constitutes "Asia" for you. India, Bangladesh and Pakistan alone have something like a few hundred times the number of English speakers Georgia does. Knowledge also does not mean good knowledge. People already complain about the English of call centers in Bangalore, but I don't see significantly better English in Georgia on a broad scale.
And it's geographically close to the EU.
This means practically nothing. For IT work the Internet is the medium of choice anyway. For what it's worth, Kosovo is even closer to Europe, yet I don't see European IT outsourcing to Kosovo happening on a large scale. Georgia is also politically unstable. They got into a war with Russia recently where an EU commission later found that it was primarily the Georgians who started it. The Georgians may fly the EU flag outside government buildings on their own initiative and declare it their goal to join the EU and NATO, but both the EU and NATO are growing increasingly skeptical of the country. Politically they're further away from the EU than they ever were.
Political culture can be irrational in Georgia. It's formally a democracy, but changes of government have never resulted from elections. Public culture can be fairly racist; in 1991 the country was founded amindst slogans such as "Georgia for Georgians", which got them into several civil wars and cost them significant territories inhabited by ethnic minorities, which would now rather see themselves annexed by Russia than governed by Georgia (not that those minorities are necessarily much better in terms of interethnic relations). Infrastructure is problematic outside the cities, too. There are entire regions that don't have electricity (or that had them until 1992, when someone dismantled and stole 70km of overland electricity line for the copper).
Personally I actually like the country, make no mistake. I have been there, I have friends there, I can read Georgian if I have to. But it's not a place I'd recommend for major IT investments.