I'd challenge that and say that if you want to study a language, do you really want to do it at uni? Keep in mind languages at uni is ridiculously hard, and you can learn it through a variety of other means (e.g. online, TAFE, colleges, personal tutoring, etc). For most jobs, employers will not ask you for proof that you studied another language in which case a uni degree majoring in it probably won't be that meaningful- unless you're applying for a very language intensive job (e.g. translator) in which case it might be of much more importance.
IMO I'd do Arts if you actually plan on taking on some other random major which you can't study elsewhere (e.g. philosophy) but again keep in mind that your Arts marks will impact your WAM... and contrary to popular belief, it's actually quite hard to get good marks in Arts from what I've heard.
