I would start with your native language, consider other languages spoken by your relatives, then evaluate the languages spoken in your country, the social-economical factors and consider the interests of your child if he/she is big enough to show an interest in a particular language.
In my case, my husband speaks fluently 4 languages ( English, Spanish, Urdu and Punjabi) and has some knowledge of French, Dutch and Russian. At home we speak Spanish which is my native language. My mother speaks only Spanish and my mother-in-law only speaks Punjabi.
Both kids speak English and Spanish. The way we did it... I started to expose my son at a very early age to english videos and to baby games on the net, we did it together and I translated. I would teach him a new word in Spanish and repeat it in English.
He is now 4 years old and a fluent English speaker, Spanish have been more challenging (believe it or not)
. Urdu and Punjabi have been in the back burner because my husband is working most of the time.
Now my son will learn a new word and ask me how it is said in English/Spanish, then goes to daddy and ask how it is said in Urdu; he also is interested in learning Chinese and Quechua so I am looking for material to give him some basic knowledge. The youngest kid just follow the footsteps of the older one and she speaks English and Spanish very clear.
This will take much time and dedication, take any opportunity to teach new words.