The speculation began when the Strictly Come Dancing stars, who met on the dance show back in August, shared a photo of themselves with Georgia showing off a spectacular diamond ring accompanied with an emoji of a couple holding hands.
Giovanni Pernice explained: "[it] means, in my tradition, we are together"
Fans have been quick to congratulate the pair on their apparent engagement, with one writing: "you both look really happy together. So happy for you both," while another wrote: "congratulations to such a lovely couple, wishing you a very happy future together."
However, Giovanni has insisted that the ring is a commitment ring and that the couple are not engaged, tweeting: "guys we are not engaged. It's a ring which means, in my tradition, we are together. Thanks for the lovely comments."
The couple met on Strictly Come Dancing last year
Georgia has gushed about her relationship with the Strictly star, describing Giovanni as her "best friend." Speaking to The Mirror, she said: "Gio is my best friend and he has helped me through a lot. He's the best thing that's ever happened to her."
"I'm in a very good place now. I've got good people around me. It's something that just happened, I didn't get a chance to look at him that way while I was on the show. It was a friendship that blossomed."
The couple have been enjoying their time together, and most recently jetted off to the Maldives for a romantic getaway. From sharing photos of sharks in the clean blue ocean to relaxing at their hotel, the pair described their trip as "paradise."