I mean, Spanish might not be as in-demand/profitable as French and German in Europe, but I don't think you can only take Europe into account and forget about the rest of the world, unless it's completely out of the question for you to live outside of Europe.
In the US, Spanish is the most in-demand second language, and the combined GDP of the Spanish-speaking world is $13 trillion dollars, so there are obviously plenty of high-paying jobs for qualified Spanish-speaking professionals there as well.
The Spanish speaking world has about 450 million speakers. So that's 29,000$ per capita - like Malaysia or Hungary. That is nothing so extraordinary.
I think learning Spanish is inflated because of that figure of all Spanish speakers around the world. But one has to take into account how many people will seriously ever go to South America for living, vacation or whatsoever? Same goes for French. Will somebody ever go to Sub Saharan Africa?
From a European position, English is of course a must. And then it's like the decision of the student if they take a secondary language, what they will choose.
German, which is spoken by about 90 million ppl + about 5 million Swiss (I wouldn't call this German. Me as a speaker of Standard German / High German can hardly get a word of that dialect).
French for it being sth like a world language but especially in those parts of the world, where you don't really go.
Spanish (same argumentation)
Italian for its beauty and being the homeland of one of the greatest cultures this planet has ever seen in history. Though it doesnt make a lot of sense. Italy is hardly an economic super power, no other countries have Italian as their native language. But then again... why do it always have to be economic reasons for learning a language?
Or even Mandarine to be able to get a good job and oppotunities in a world of the new masters of the universe to come.
It's also always a question, which school offers what. Most here in Germany have English and then as a secondary language you can choose between Spanish, French or Latin (which is a must, if you want to become a doctor)