I used to work for a company which made its own geospatial information system (GIS) product and we had this exact use case using Qt as well.
From my experience we would use option #2 as it encapsulated the details and relationships between the information panel (i.e. a view) and the world map (i.e. a model).
In the future maybe your world map will contain more than selectable regions and the information panel may not want to have to start knowing about all of the different entities in your world map to display them. So yes while #2 results in some additional signals it can be better from an encapsulation and expansion standpoint.
For example connect the information panel to a signal from your world map regarding a selected entity rather than a region. Sure a region is an entity and using region directly could work but again in the future maybe your world map will have selectable buildings, markers, vehicles, etc...
i.e.
connect( mapWidget, SIGNAL( selectedEntityChanged( MapEntity* ) ),
infoPanel, SLOT( onSelectedEntityChanged( MapEntity* ) ) );
This way your information panel could be designed to generically display information about an entity, again from which a region is derived. If you want to add say a vehicle to your map and make it so the information panel can display it, all you'll have to do is derive your vehicle from entity and you'll be good to go.
Great question welcome to StackOverflow!