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Significare vs. voler dire

In Italian, both significare and the expression voler dire translate to to mean in English. However, they are not always interchangeable. The choice between them depends on the context, formality, and the specific nuance of meaning you wish to convey, whether it's a literal definition or a speaker's intention.

Significare

A1
This verb refers to the objective, literal, or symbolic meaning of something. It is often used for dictionary definitions, signs, symbols, and the inherent significance or consequence of an event. It is generally more formal than voler dire and is akin to the English to signify or to denote.
Cosa significa la parola 'resilienza'?
(What does the word resilience mean?)
In questa cultura, il rosso significa fortuna e felicità.
(In this culture, red means luck and happiness.)
Un aumento dei tassi di interesse significa che i prestiti costeranno di più.
(An increase in interest rates means that loans will cost more.)
La sua approvazione significa molto per tutto il team.
(His approval means a lot to the whole team.)
Quelle nuvole scure all'orizzonte non significano nulla di buono.
(Those dark clouds on the horizon don't mean anything good.)

Voler dire

A2
This expression, which literally translates to to want to say, is more conversational and focuses on the speaker's intended meaning, clarification, or the practical implication of something. It's used when you ask what someone is trying to say, when you rephrase something, or when you explain something in simpler terms. It is the equivalent of What do you mean?, I mean..., or that is to say....
Non capisco, cosa vuoi dire con questo?
(I don't understand, what do you mean by that?)
È un libro complesso, ma non vuol dire che sia noioso.
(It's a complex book, but that doesn't mean it's boring.)
Non volevo dire che hai sbagliato, ho solo un'opinione diversa.
(I didn't mean that you were wrong, I just have a different opinion.)
Quindi, questo vuol dire che la riunione è annullata?
(So, does this mean that the meeting is cancelled?)
Il capo ha detto che 'dobbiamo ottimizzare le risorse', che vuol dire che qualcuno verrà licenziato.
(The boss said we need to optimize resources, which means someone will be fired.)

Summary

In essence, use significare for objective, literal, and symbolic meanings (what something denotes). It is more formal. Use voler dire for intended or implied meanings, clarifications, and rephrasing in conversation (what someone wants to say or what a situation implies). It is much more common in everyday speech.