Significance means having the quality of being "significant" — meaningful, important. It also refers to the meaning of something. A certain date might have significance because it's your birthday or the anniversary of Princess Di's wedding.
Significance starts with the word sign for a reason. An item's significance is a sign of its importance. The significance of something can be implicit or explicit — meaning it can be clear or only known with a deeper understanding of the situation. Your perfect score on the Calculus exam might have added significance for people who know that you never even opened your textbook to study.
Definitions of significance
the quality of being significant
“do not underestimate the
significance of nuclear power”
DISCLAIMER: These example sentences appear in various news sources and books to reflect the usage of the word ‘significance'.
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