That is incorrect. Older generations are not all "xenophobic", they were just sick and tried of EU laws overriding ours. Other grievances included EU countries over-fishing UK waters, France letting immigrants just waltz through the channel tunnel with no checks on them or anything and the general "F**k you" attitude we receieved from the Eu when Cameron tried to get a few issues resolved that might have removed the need for a referendum at all.
This has been building up for 40 years, with successive governments just covering their ears and pretending nothing was wrong. Its no wonder people would choose to leave the first chance they got. Perhaps if we had been given a referendum sooner (when we ASKED for one), maybe we may have chosen to remain.
Alas, the EU refuses to reform. So what is the point in staying in it if that is the case? Leave is our better option in the long run.