Yes, it's possible, Though it might not happen in the next few years. These things are gradual, and since they effect lots of businesses, jobs, lives, etc, it may take a while. But don't expect too much. Looking at the state your country is in now, it's gonna have to go through a lot of changes, hard work and honesty. And knowing many filipinos, that's gonna be hard to do for most. If you want something, work for it.
I've been there lots of times. And, truthfully, I'm afraid I have to say 80% don't do their jobs properly. Now they may give the proper change or not overprice most natives, so you probably don't have the experience of people trying to scam you most of the time. Probably not an accurate estimate, but the philippines didn't make a very good impression to me as a foreigner.
Now, seriously, no offence intended, just please accept my constructive criticism.