In the Balfour Declaration, Balfour made an agreement, which stipulated that Palestine will serve as a national home for Jewish people around the world. This was said to bring political support from Jewish population.
As per the virtue of the Balfour Declaration, Palestine was to be identified as the national home for the Jewish people. Balfour made this agreement in order to get the Jewish support for the efforts of first world war.
Hence, the significance of the Balfour Declaration is given above.
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